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UK inflation slide fuels rate cut bets and jolts markets - TL;DR CNBC

UK inflation slide fuels rate cut bets and jolts markets

Publishing timestamp: 2023-12-20 09:46:26


Summary

The UK inflation rate fell to 3.9% in November, lower than expected. This prompted speculation that the Bank of England may cut interest rates in 2024. The drop in inflation led to a decrease in British bond yields. The FTSE 100 was the only major European stock index in positive territory. The Bank of England has maintained a hawkish tone and emphasized the need for restrictive policy. The UK Finance Minister welcomed the figures but acknowledged that many families are still struggling with high prices. Economists believe that the fall in inflation could lead to the Bank of England loosening policy in the future. However, the broader economic picture remains complex and marred by stagnation and subdued growth prospects.


Sentiment: MIXED

Tickers: UK10Y-GB.FTSE

Keywords: bankseconomyftse 100world economybusiness newsbreaking news: economybritish 10 year giltbreaking news: europeinflationcentral banking

Source: https://www.cnbc.com/2023/12/20/uk-inflation-rate-drops-to-3point9percent-in-november-well-below-expectations.html


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