UK rate cut speculation swells as inflation falls by more than anticipated to 2-year

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LONDON (AP) — Inflation in the U.K. as measured by the consumer prices index eased back to its lowest level in more than two years, official figures showed Wednesday, in a development that stoked speculation that the Bank of England may start cutting interest rates sooner than expected. The Office for National Statistics said inflation dropped to 3.9% in the year to November, its lowest level since September 2021, from 4.6% the previous month. That decline was bigger than anticipated in financia