London stocks were set to edge lower at the open on Thursday as investors eyed an expected 25 basis point rate cut from the Bank of England.
The FTSE 100 was called to open down around 10 points.
Michael Brown, senior research strategist at Pepperstone, said: "The Bank of England are set to deliver a 25bp cut, lowering Bank Rate to 3.75%, in light of a continued weakening in labour market conditions, and amid faster than expected disinflationary progress.
"Such a decision, though, shan't be a unanimous one, with the MPC instead likely to vote 6-3 in favour of such a cut, with those three dissenters preferring to hold Bank Rate steady."
The BoE rate announcement is due at midday, while the European Central Bank policy announcement is at 1315 GMT.
The ECB is widely expected to stand pat, maintaining the deposit rate at 2.00%.
Brown said President Lagarde is again likely to reiterate that policymakers are in a 'good place', with the easing cycle almost certainly at an end.
"Focus, though, will fall largely on the latest round of economic forecasts, with an upgrade to the near-term growth trajectory likely, but with the 2028 inflation projection of most interest, chiefly as to whether HICP is seen as undershooting the 2% target for a third straight year," he added.
Policy announcements are also due from Riksbank and Norges Bank, which are expected to hold their policy rates steady at 1.75% and 4.00% respectively.
In corporate news, BP's chief executive has stepped down after just two years in the role, to be replaced by the head of Woodside Energy, Meg O'Neill.
In an announcement late on Wednesday, BP confirmed that Murray Auchinloss would leave both the role and board on Thursday.
Auchincloss - who formally become chief executive in January 2024, after spending four months as interim head - said: "After more than three decades with BP, now is the right time to hand the reins to a new leader."
O'Neill will be BP's third chief executive in five years.
Electricals retailer Currys held annual guidance as it reported a surge in half-year profit, with recent trading in line with expectations.
The company more than doubled adjusted pre-tax profit for the six months to 1 November to £22m from £9m a year ago.
Flexible office operator Workspace appointed Tom Edwards‑Moss as chief financial officer designate, replacing Dave Benson.
Benson, who informed the board of his decision to leave in August, will remain in post until Edwards‑Moss takes up the position following completion of his notice period at Hibernia, with further updates on the timing of the transition to be provided at a later date.