FTSE 100 Modestly Higher Ahead Of BoE Rate Decision
(RTTNews) - U.K. stocks were moving higher on Thursday ahead of the Bank of England's rate decision later in the day.
The BoE is widely expected to hold its interest rate at 5.25 percent for the seventh straight session despite inflation hitting the 2 percent target in May. The current bank rate is the highest since early 2008.
Elsewhere, the Swiss National Bank delivered another interest rate cut, reducing its policy rate by 25 basis points to 1.25 percent, as expected by two-thirds of analysts.
Norway's central bank held its key policy rate at 4.5 percent as expected.
The benchmark FTSE 100 was up 14 points, or 0.2 percent, at 8,210 after edging up 0.2 percent on Wednesday.
In corporate news, Tate & Lyle fell 4.4 percent after the food ingredients maker agreed to acquire nature-based ingredients provider CP Kelco for $1.8 billion.
Investment platform CMC Markets soared 6 percent after it reported a 52 percent jump in annual profit and forecast higher operating income for fiscal 2025.
Retailer Sainsbury added 1 percent after NatWest Group agreed to acquire its banking business.
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