Britain’s inflation cooled more than expected in November, strengthening expectations that the Bank of England will cut interest rates this week.
Britain’s annual inflation rate slowed more than expected in November to 3.2 percent, official data showed Wednesday which analysts said cement expectations of a Bank of England rate cut this week.
The Consumer Prices Index dropped from 3.6 percent in October, the Office for National Statistics said in a statement. Analysts’ consensus forecast had been for inflation of 3.5 percent in November.
The Bank of England is widely expected to cut its main interest rate by a quarter point to 3.75 percent on Thursday, as the UK economy struggles to grow and unemployment rises.
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