FTSE 100 Live: ‘Bank of England meeting just got interesting’, blue-chips close highest since May, Fed holds

A surprise drop in UK inflation today boosted hopes that the Bank of England is near the peak of its interest rate cycle. The FTSE 100 index turned higher on the inflation reading of 6.7%, which comes a day before the Bank reveals its latest rates decision. Attention is also on tonight’s Federal Reserve rates announcement, particularly the outlook for policy in the year ahead.