European stocks are likely to open higher on Wednesday after China stepped up support for the world's second largest economy. The Chinese government unveiled new stimulus plans that include issuing additional sovereign debt and raising the budget deficit ratio, confirming with the country's economic development goals.
Elsewhere, the Nikkei newspaper reported that Japan's government is considering spending around $33 billion for pay-outs to low-income households and an income tax cut in a package of measures to cushion the blow to households from rising living costs.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.