Market News
Sterling edges lower after UK inflation eases as expected - REUTERS
By Ozan Ergenay and Joice Alves
LONDON, Nov 19 (Reuters) - Sterling edged lower after data on Wednesday showed British consumer price inflation fell to 3.6% in October, the first drop since May, with traders increasing bets the Bank of England will cut interest rates in December.
Consumer price inflation fell to 3.6% in October from September's joint 18-month high of 3.8%, as expected by the BoE and economists polled by Reuters.
The data cemented expectations that the BoE could cut interest rates in December, while elsewhere investors struggled for direction and U.S. agencies cleared a backlog of data after a prolonged government shutdown.
