GLOBAL MARKETS-World stocks inch higher ahead of U.S. inflation data

World shares inched higher on Tuesday, eking out limited gains as investors kept a wary eye on a U.S. inflation reading later in the day that could offer clues on the pace of Federal Reserve interest rate hikes this year. The selloff came on the back of strong U.S. wage numbers, which investors feared might feed into inflation and push the U.S. central bank towards a faster pace of monetary tightening. Raising its global growth forecasts, the Organisation for Economic Cooperation and Development (OECD) said the Fed would probably have to raise interest rates four times this year as inflation picks up.

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