The markets seem to be in consolidation mode on Wednesday after their see-saw start to the week.
US and Asian stocks built on their previous day’s gains overnight and the FTSE 100 was broadly unchanged at kick-off this morning,
“While recent market sentiment has been dictated by the US Federal Reserve, their counterparts in the Bank of England will take centre stage later today when they deliver their monthly address,” says AJ Bell investment director Russ Mould.
“Investors might expect some guidance on the future trajectory of UK interest rates although consumer prices are merely bubbling on this side of the Atlantic when compared with the boiling point they have already reached in the US.
“Much will depend on just how transitory the current elevated levels of inflation turn out to be.”