London’s FTSE 100 drops ahead of big Bank of England rate hike

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City AM

By Jack Barnett London’s FTSE 100 dropped today ahead of what could be the biggest interest rate rise in the Bank of England’s 25 years of independence. The capital’s premier index fell 0.7 per cent to 7,194.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, tumbled one per cent to 18,526.68 points. Traders were seemingly wobbling before Bank governor Andrew Bailey and the rest of the monetary policy committee lift borrowing costs by as much as 75 basis points to 2.5 per cent, according to market forecasts. A 50 point hike…

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