European equity markets were poised for a muted open on Monday as investors awaited an expected US Federal Reserve interest rate cut this week. However, the outlook for 2026 remains less certain, with analysts expecting a “hawkish cut” in which Chair Jerome Powell may signal a more cautious path for further easing. In Europe, investors will assess German industrial production data, while no major earnings reports are scheduled. Looking ahead, the Swiss National Bank is expected to keep its policy rate at 0% on Thursday. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures hovered around the flatline.