Shares steady, pound treads cautiously ahead of BoE meeting

Global shares held around record highs on Thursday, supported by investor confidence in the prospect of a drop in U.S. interest rates this year, which also boosted gold, while the pound held steady ahead of a Bank of England meeting later in the day.

The Swiss National Bank cut interest rates for a second time this year, which knocked the Swiss franc while Norway's Norges Bank left rates unchanged, as expected.

Next up is the BoE, which is also expected to leave UK interest rates unchanged, but may offer a steer on what to expect later this year.The MSCI All-World index was broadly steady at 805.19, having marked another record high on Wednesday, when U.S. markets were closed for a public holiday.

In Europe, the STOXX 600 rose 0.4% in early trading, lifted by positive sentiment around the tech sector.In currencies, the pound was steady at $1.27125 in cautious trading but is down 0.2% in June.
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 The pound is treading cautiously ahead of the Bank of England (BoE) meeting, where interest rates are expected to remain unchanged. The pound is currently steady at $1.27125 in cautious trading but has seen a 0.2% decline in June