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FTSE 100 Up Ahead of BoE Rate Decision
The UK stock market reacted to the Bank of England's anticipated decision on interest rates, with the FTSE 100 rising by 0.51% to reach 10,742.81 points. This followed the US Federal Reserve's hike in interest rates by 25 basis points, while investors expect the Bank of England to hold rates steady despite rising energy prices. Investors are now watching for signals that could prompt the Bank to raise rates in November, with expectations of an increase of at least 43.5 basis points by year's end. This comes amid rising oil prices and the impact of the Middle East war on inflation pressures, along with positive earnings reports from companies like Next and AstraZeneca, which led their stock prices higher.
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