UK Inflation Drops, Rate Cut Considered

UK Inflation Drops, Potential Interest Rate Cut on the HorizonThe UKs inflation rate unexpectedly fell to 3.2% in November, leading to discussions about a possible interest rate cut by the Bank of England. Economists had anticipated a higher figure, around 3.5%. Core inflation also decreased, indicating broader price stabilization. The unemployment rate rose to 5.1%, further influencing the decision. A close vote is expected, with Governor Andrew Bailey potentially swinging the decision towards a rate cut to stimulate economic growth.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.