FTSE 100 Drifts Lower Ahead Of BoE Rate Decision

(RTTNews) - U.K. stocks fell sharply on Thursday after the U.S. Federal Reserve cut rates as expected and penciled in two more for 2025, fewer than four seen in September.

Investors also braced for the Bank of England's last meeting of the year later in the day.

The central bank is widely expected to hold rates at 4.75 percent after data showed a high rate of wage growth and inflation above the bank's 2 percent target.

The benchmark FTSE 100 was down 90 points, or 1.10 percent, at 8,109 after finishing marginally higher the previous day.

In corporate news, Serco Group shares jumped nearly 7 percent. The outsourcing giant Serco forecast full-year revenue of £4.8bn in line with its prior guidance.