The Stoxx Europe 600 index was up 0.1% at 328.18, and has swayed between gains and losses since the start of the session.
The statement from the U.S. Federal Open Market Committee, due later Wednesday, may be a source of high levels of volatility.
Analysts widely expect the Fed to ,cut a further $10 billion from its quantitative easing program; therefore we can expect global markets to be quite jittery upon the release of this statement.
The Fed’s new chairwoman, Janet Yellen, will hold an accompanying press conference, and investors will look for any indication on the Fed’s view of the pace of U.S. and global growth.
Among country-specific indexes, Germany’s DAX 30 index rose 0.3% to 9,265.43, and France’s CAC 400 index lost 0.2% to 4,306.47
London’s FTSE 100 was off 0.2% at 6,589.47, holding to losses after the release of minutes from the Bank of England’s most recent meeting showed officials voted unanimously to keep monetary policy on hold. Separately, the U.K. unemployment rate stood unchanged at 7.2% in the three months to January, as expected, and jobless claims continued to fall in February, according to data from the Office for National Statistics.
The British pound rose against the U.S. dollar after the data.