Slowing pace of price rises in November makes Bank of England cut to cost of borrowing on Thursday more likely UK inflation significantly cooled in November to 3.2%, official figures show, strengthening the case for the Bank of England to cut interest rates on Thursday. In a crunch week for the economy, the Office for National Statistics said the annual inflation rate as measured by the consumer prices index eased last month from a reading of 3.6% in October, overshooting City forecasts of a modest drop to 3.5%. Continue reading...