The further big fall in CPI inflation, from 3.6% in October to 3.2% in November, will surely be enough to prompt the Governor of the Bank of England to reach into his big bag tomorrow and give borrowers the early Christmas present of a cut in interest rates from 4.00% to 3.75%. It also supports our view that rates will be reduced to 3.00% next year.
We’re hosting a 20-minute online briefing at 3pm GMT on Thursday 18th December on the latest central bank decisions and 2026 policy outlook. (Register here.)
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