FTSE 100 Live: Trillion-dollar tech sell-off rocks global markets

Good morning and welcome to the City AM liveblog.

As global software giants continue to patch their wounds after billions were shed on the news of Anthropic’s latest AI innovation, in London attention will be fixed back on the square mile.

The Bank of England’s monetary committee is set to meet for the first time this year to decide whether to take the chop to interest rates.

Markets – and City AM’s own Shadow MPC – are placing their bets on a hold as the Bank continues its gradual chop to the base rate.

Investors have suggested the next 25 basis point cut will only come in April, the same month when regulated effects through changes to energy pricing are expected to bring inflation down. 

Alongside its interest rates decision, the Bank is set to publish its first monetary policy report of the calendar year. 

The new set of forecasts will likely include research on the effects of Budget policies on price growth, as well as fresh analysis on the impact President Trump’s tariffs have had on global trade. 

Bank governor Andrew Bailey will also be expected to give an updated view on inflation, which will provide clearer clarification over the future of interest rate cuts in the near-term.

Will we see a more dovish outlook from the Bank’s gov or is the slow and steady pace set to continue?

Stick with us and we’ll be bringing you the top news of the day.

Here’s a few of our top stories from yesterday:

• Exclusive: Starling’s top investors withdraws support for London IPO
• Lime policy chief: Retime traffic lights to make London cyclists safer
• Britain’s growth slumps and the Business Secretary scratches his head
• The Debate: Should student loan debt be forgiven?
• Is the Guinness Bristol City deal a sign of football shirt sponsorships to come?