FTSE Retreats as Inflation Concerns Loom Amid BoE Speculations

The UK's FTSE 100 index fell after hitting unprecedented highs, as rising U.S. inflation sparked concerns about the tariff impact. Investors are closely monitoring the Bank of England's monetary policy developments.

U.S. consumer prices saw their sharpest rise in five months in June, driven by increasing costs, signaling potential inflation effects from tariffs. Nevertheless, UK's relationship with the U.S. has cushioned some trade worry insights.

Bank of England Governor Andrew Bailey's upcoming speech is crucial for traders who anticipate rate cuts amid economic anxieties. Meanwhile, GSK shares dipped due to safety concerns over its drug, while Experian shares grew following strong revenue reports.

(With inputs from agencies.)