London shares exhibited minimal movement on Monday as investors prepared for forthcoming interest rate decisions from the U.S. Federal Reserve and the Bank of England. The blue-chip FTSE 100 inched up 0.03% by 1142, having traded in a tight range over the past few sessions. The FTSE 250 index dipped 0.2%.

Global investors are poised for the U.S. central bank’s monetary policy decision on Wednesday, with policymakers split on the necessity of additional rate cuts to support the job market versus the potential risks posed by persistent inflation. Market participants are assigning an 87% probability to a 25 basis points reduction in interest rates this week, as per reports. This likelihood has been influenced by a combination of mixed economic indicators from the U.S. and remarks from Federal Reserve officials.

Meanwhile, an industry report indicated that Britain’s jobs market continued to exhibit weakness last month, ahead of finance minister Rachel Reeves’ budget on November 26, as employers expressed concerns regarding potential new tax increases. The Bank of England is anticipated to lower borrowing costs by 25 basis points to 3.75% in the upcoming week, following a period of maintaining the current rate in November. Among single stocks, Barratt Redrow fell 2% after Citigroup cut the housebuilder’s target price to 506 pence from 530 pence.

Unilever opens new tab dipped 0.2% after Magnum Ice Cream Company kicked off Amsterdam trading as it finalised a long-awaited spinoff from the global packaged goods maker. Investment firm SDCL Efficiency Income Trust experienced a decline of 17.7% in its shares, as a crucial metric—the ratio of debt to equity—registered at 71.9% of NAV, surpassing the investment policy limit of 65%.