FTSE 100 Dips Ahead Of Fed, BOE Decisions
(RTTNews) - U.K. stocks traded slightly lower on Wednesday as investors looked ahead to interest rate decisions from the U.S. Federal Reserve and the Bank of England.
The Federal Reserve is widely expected to leave interest rates unchanged later today, but the accompanying statement along with Chair Jerome Powell's press conference might provide some important clues on the timing of future rate cuts.
Optimism about a March rate cut has faded recently, with many economists now suggesting the Fed will wait until May to begin lowering rates.
The Bank of England is all but certain to keep interest rates at 5.25 percent.
Meanwhile, U.K. house prices rose more than expected in January, mortgage provider Nationwide reported earlier in the day.
The benchmark FTSE 100 after gaining 0.4 percent the previous day.
IT services provider FDM Group fell nearly 2 percent despite delivering a resilient performance in 2023.
Likewise, GSK fell over 1 percent despite delivering strong 2023 performance and upgrading its growth outlook.
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