Market News
Bank of England's Greene plays down sharp drop in September inflation - REUTERS
WASHINGTON, Oct 22 (Reuters) - A sharp fall in British consumer price inflation in September was driven by more volatile components, Bank of England rate-setter member Megan Greene said on Tuesday, a day after she said she favoured a gradual approach to cutting interest rates. Consumer price inflation fell to a three-year low of 1.7% in September from 2.2% in August, below forecasts in a Reuters poll of economists. The services component - which the BoE generally views as giving a better sense of long-term inflation pressures - dropped to 4.9% from 5.6%.
