Before several important interest rate decisions, investors on the German stock market continued to hold back on Tuesday. The Dax closed almost unchanged and was 0.01 percent higher at 15,128.27 points. Nevertheless, the leading index recorded an increase of almost 8.7 percent in January, which corresponds to one of the strongest balance sheets for the start of the year in the history of the Dax. The MDax for medium-sized companies fell 0.19 percent on Tuesday to 28,813.25 points, but even gained 14.7 percent in the first month of the year - a January record.

"The volatility picks up again before the central bank decisions and illustrates the increased uncertainty in the market," wrote market expert Salah-Eddine Bouhmidi from the trading house IG. Investors were infected by the euphoria on the stock market at the beginning of the year and now fear statements from the currency watchdogs about a continuation of the aggressive, restrictive monetary policy in the fight against high inflation. The US Federal Reserve will announce its interest rate decision on Wednesday, followed by the European Central Bank and Bank of England on Thursday.