British Stocks Rebound Amid Key Fed and BoE Rate Decisions
British stocks showed a modest recovery after the previous day's losses, as investors awaited crucial rate decisions from the U.S. Federal Reserve and the Bank of England. With the Fed expected to reduce rates, UK inflation data also suggested a delay in BOE's rate cuts. Significant market movements included Burberry's rise and property firm PRS REIT's asset sale plans.
British stocks showed signs of recovery on Wednesday, reversing earlier losses, as investors keenly anticipated the U.S. Federal Reserve's policy announcement. The FTSE 100 gained 0.2%, while the FTSE 250 saw a 0.4% uptick.
The U.S. central bank is widely projected to lower interest rates by 25 basis points, a move prompted by evidence of a slackening labor market. Investors will pay close attention to Fed Chair Jerome Powell's commentary on future rate directions.
Meanwhile, inflation figures from the UK held steady at 3.8% for August, marking the highest among major economies and leading to predictions that the Bank of England will postpone any rate cuts. Additionally, PRS REIT's announcement to sell its business unit and significant sector moves were observed.
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