The blue-chip index is seen down about 3 points lower with just over an hour until the open.The FTSE 100 has started in the red, as predicted, with miners and banks leading the retreat ahead of the Bank of England decision later.
However, London’s blue chip index is down just five points at just over 7118. 
Lloyds Banking Group PLC (LSE:LLOY) is the biggest faller, down 2.8%, while NatWest Group PLC (LSE:NWG) is down less than 1%. 
No policy surprises are expected from the BoE today and we expect a message expressing patience for the most part; however, the main focus may well be the publication of the Bank’s policy tightening review, should it be released today, said Deutsche Bank (NYSE:DB)’s macro strategy team.
DB’s economists predict the Bank’s focus will be on unwinding its bloated balance sheet more so than on hiking rates.
But they said the main story from the last 24 hours has been some strong signals from senior Fed officials about the US central bank’s own tapering, which sent Treasury yields ricocheting lower then higher.
Prominent among the big FTSE fallers are the miners, with Anglo American PLC (LSE:AAL) followed closely behind by Rio Tinto PLC (LSE:RIO), BHP Group PLC (LSE:BHP) and Antofagasta plc.
Risers are led by WPP PLC (LSE:WPP) as it hiked its dividend and full-year guidance after a strong second quarter helped it swing back into the black as the advertising industry returns to health.
A popular riser among retail investors will be Rolls-Royce Holdings PLC, up over 1% as it also returned to profit at the half-year and confirmed it is near to a sale of its ITP Aero division.
6.45am: London called lower
The FTSE 100 looks practically flat ahead of Thursdays open as attentions focus on the Bank of England, with almost everyone questioning when the central bankers will make a move.
In London, CFD firm IG Markets makes the Citys blue-chip benchmark only 3 points lower at 7,107 to 7,110 with just over an hour to go until the open.
Todays Bank of England meeting will be closely watched, albeit with small expectations, as economists, bankers and investors look down the road at possible timelines – for the curtailment of bond-buying stimulus and ultimately the path to rate rises.
First, though, theres the not-so-small matter of Covid-19.
The UK economy is still in the grip of the so called pingdemic which in itself is a brake on economy activity, particularly on services, which is something that the Bank of England may be concerned about, however with vaccination rates so high, and the removal of isolation requirements on August 16th, its something the central bank wont have to worry about for much longer, said Michael Hewson, analyst at CMC Markets.
While there is little likelihood of a change in policy at the meeting this week, it will still be noteworthy if there is dissent on the pace of the bond buying program, and whether the bank will look at slowing the pace.
Anything more or less than a 7-1 or 6-2 split on the asset purchase program would therefore be a surprise, with 8-0 on keeping rates unchanged.
Over the pond, it is a somewhat similar story. Last night Federal Reserve vice chair Richard Clarida put markets on notice as he commented that its stimulus measures could begin tapering down during the current year, though naturally its subject to prevailing economic conditions.
On Wall Street, the Dow Jones was down 323 points or 0.9% to 34,792.
The S&P 500 slipped 0.46% to 4,402 whilst the Nasdaq ended the session in positive territory, up0.13% at 14.780. Elsewhere, the small-cap centred Russell 2000 index was down 1.23% at 2,196.
In Asia, Japans Nikkei climbed 112 points or 0.4% to trade at 27,697 whilst Hong Kongs Hang Seng was marked 0.36% lower at 26,331. The Shanghai Composite meanwhile was only down 0.1% at 3,474.
Around the markets
The pound: US$1.3893, up 0.03%
Gold: US$1,809 per ounce, down 0.14%
Silver: US$25.38 per ounce, up 0.04%
Brent crude: US$70.56 per barrel, down 2.5%
WTI crude: US$68.38 per barrel, down 3.09%
Bitcoin: US$39,363, up 3.3%
6.50am: Early Markets – Asia / Australia
Stocks in the Asia-Pacific region struggled for gains on Thursday as Australia recorded a trade surplus of ~A10.5 billion in July, according to data released by the countrys Bureau of Statistics.
That was higher than forecasts for a A$10.45 billion trade surplus, according to a Reuters poll.
The Shanghai Composite in China fell 0.05% and Hong Kongs Hang Seng index dipped 0.38%
In Japan, the Nikkei 225 gained 0.43% while South Koreas Kospi slipped 0.05%.
Shares in Australia lifted, with the S&P/ASX 200 trading 0.19% higher.