UK CPI, BoE decision due next week
Tesco climbs after it reiterates FY guidance
Crest Nicholson jumps on rejecting Bellway39;s offer
FTSE 100 down 0.2, FTSE 250 adds 0.1

June 14 Reuters Britain39;s FTSE 100 was on course for its longest weekly losing streak since March 2020 on Friday, as investors grappled with uncertainty around the outlook for interest rates and political turmoil in Europe.

The bluechip FTSE 100 index slipped 0.2. The benchmark was headed for a fifth straight weekly decline, falling 1.2.

The knockon effects from French President Emmanuel Macron39;s gamble to call snap elections, a hawkish projection from the U.S. Federal Reserve and weakerthanexpected UK GDP data for April weighed on the British markets this week.

Investors will now shift focus to domestic inflation report and the Bank of England39;s BoE monetary policy meeting  the last before the July 4 election due next week.

Whether there is political pressure or not, I don39;t think the Bank of England will cut rates in June because service sector inflation and wage growth are still too sticky for the central bank39;s liking, said Fiona Cincotta, senior market analyst at City Index.

The BoE is updating their forecasts, so obviously there will be a lot of attention on inflation expectation and growth as well, after growth stalled in April.

The British public39;s expectations for inflation cooled last month, a Bank of England survey showed, and the highest proportion since the global…