European markets head for mixed open as UK awaits Bank of England's rate decision

Source: CNBC
Author: Holly Ellyatt

LONDON -- European stocks are expected to open in mixed territory Thursday, with U.K. investors looking ahead to the Bank of England's policy rate decision.

The U.K.'s FTSE index is expected to open 16 points higher at 8,212, Germany's DAX up 21 points at 18,087, France's CAC 40 up 3 points at 7,568 and Italy's FTSE MIB up 10 points at 33,192, according to IG.

U.K. traders will be focused on the Bank of England's rate decision Thursday, although the central bank is widely expected to hold rates steady at a 16-year high of 5.25%, with the majority of economists polled by Reuters forecasting a cut in August after the country's July 4 election.

Data released Wednesday showed U.K. inflation rose by an annual 2.0% in May, hitting the BoE's inflation target.