UK’s blue-chip FTSE 100 index was slightly up on Thursday, helped by gains in shares of export-oriented firms as the pound declined ahead of the Bank of England’s (BoE) monetary policy decision.
The central bank is expected to announce a 25 basis point (rate hike at 1100 GMT, taking borrowing costs to their highest level since 2008 as it battles double digit inflation.
Following the announcement, market participants will keenly parse comments by Governor Andrew Bailey for clues on the outlook for inflation and consequent monetary tightening.
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