FX.co ★ FTSE 100 Edges Up Ahead Central Bank Decision

The FTSE 100 inched higher on Wednesday as investors digested the latest UK inflation figures and awaited the US Federal Reserve’s interest rate decision later in the day, followed by the Bank of England’s policy meeting on Thursday. Expectations for additional BoE rate hikes in 2024 were pared back after inflation unexpectedly remained unchanged in May, reinforcing a more cautious stance among some policymakers. Energy shares stayed under pressure, with Shell and BP each losing more than 1%. British American Tobacco fell more than 2%, Rio Tinto declined over 0.9%, and Unilever was down roughly 0.7%. By contrast, HSBC gained around 1.5%, AstraZeneca added 1.3%, and GSK rose 1.1%.