FTSE 100 Dips After Bank of England Holds Interest Rates

The FTSE 100 index recorded its highest intra-day high of 10,979.60 on Thursday but closed lower at 10,897.27 due to a barrage of earnings reports and central bank meetings across the Atlantic.

Investors in London were focused on various company earnings announcements, while the Bank of England's interest rate decision kept them busy. The BoE voted 6-3 to maintain its current interest rate of 3.75%, with some committee members advocating for a quarter-point increase.

BoE Governor Andrew Bailey downplayed the notion that the central bank is gearing up for a hike, stating 'Please do not leave this room thinking that the Bank of England is edging towards a hike.'

The bond market reaction aligned with Bailey's view, as the yield on 10-year gilts softened to 4.99% from 5.04% on Wednesday.