FTSE 100 Falls 1% to 10,399.63 After BoE Holds in 7-2 Hawkish Vote

The FTSE 100 dropped more than 1% to 10,399.63 on June 18 after the Bank of England kept Bank Rate at 3.75% but revealed a 7-2 vote with two members favoring an immediate hike. Markets had largely expected a steady decision following May CPI at 2.8%, yet April labor data surprised with unemployment at 4.9% and stronger wage growth of 4.4%. The cautious BoE statement kept tightening bias alive amid energy-price-cap risks, while Fed hawkishness added to market caution and drove losses in miners and energy stocks.