UK stocks decline before Bank of England rate decision

Britain's main stock indexes declined on Thursday, pressured by financials and materials, ahead of the Bank of England's rate decision and amid ongoing inflation concerns.

Britain's main stock indexes fell on Thursday, pressured by financials and materials as investors awaited the Bank of England's rate decision and ‌assessed the Federal Reserve's hawkish policy outlook.

The BoE is widely expected to hold ‌rates at 3.75% later this morning, after the U.S. Federal Reserve kept rates unchanged on Wednesday. However, nine Fed policymakers expect a rate hike this year as inflation concerns continue to weigh on consumers. The blue-chip ⁠FTSE ​100 index fell ⁠0.94% to 10,410.01 points by 10:16 GMT, while the midcap FTSE 250 slipped 0.63%.