European Markets Open Lower Amid Central Bank Decisions

On Thursday, major European stock markets began the day with losses, as investors eagerly awaited the Bank of England's interest rate decision, set to be released later in the day. This comes on the heels of the United States Federal Reserve's decision to lower the federal funds rate by 25 basis points to a range of 4.25% to 4.50%. Fed Chair Jerome Powell emphasized that further rate cuts will depend on more progress on inflation.

The DAX dropped 0.90%, the FTSE 100 declined 1.14%, the CAC 40 fell 1.29%, and the Euro Stoxx slipped 1.36%. Meanwhile, the euro gained 0.30% against the dollar to trade at $1.03966, and the pound rose 0.29% against the greenback to $1.26130.

More updates to follow...