BUSINESS LIVE: Sainsbury’s sales fall; BT boosts cost savings target

BUSINESS LIVE: Markets brace for BoE rate hike; Sainsbury’s sales fall 8%; BT boosts cost savings target by £500m; Rolls-Royce weathers soaring costs

Markets are anticipating the Bank of England’s Monetary Policy Commitee to vote for a base rate hike of 75 basis points to 3 per cent at midday today. Investors will also have a keen eye on the bank’s revised inflation and GDP growth forecasts.  

The FTSE 100 is down 0.6 per cent in early trading. Among UK companies with reports and updates are Sainsbury’s, BT Group, Rolls-Royce, RS Group, Smith & Nephew and Trainline. Read the Thursday 3 November Business Live blog below. 

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