© Reuters. FILE PHOTO: A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo
By Shashwat Chauhan
(Reuters) -British equities jumped on Wednesday as investors cheered a surprise drop in domestic inflation, which spurred hopes that the Bank of England (BoE) could consider interest rate cuts early next year.
The blue-chip advanced 0.9% as of 0902 GMT, touching its highest level since May. 24 earlier in the session, outpacing the pan-European , which was trading flat. ()
The pound dropped 0.5% after official data showed British inflation fell by more than any economist polled by Reuters predicted in November, pushing the headline rate to its lowest since September 2021.
“Let’s not be churlish, the latest UK inflation numbers deliver a welcome shot in the arm for the UK economy,” said Danni Hewson, head of…
