UK's main stock index edged lower on Thursday, dragged by a slump in shares of mobile operator Vodafone, while investors assessed the scope for continued interest rate hikes and their impact on the British economy.
by the Bank of Canada spooked investors globally, sparking fears that major global central banks could stick to their rate tightening cycles for longer.
"Over here, the BoE is already expected to hike rates again this month given the strong CPI numbers ... if anything, it has simply reinforced those expectations" said Stuart Cole, chief macro economist at Equiti Capital. "But it has caused the wider market to reassess its thinking on how close we were to the end of the current rate hiking cycle."
Investors now await data on UK's labour market, economic growth and monthly industrial and manufacturing output next week to gauge the state of the economy and the policy tightening path.
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