UK inflation hits more than three-year low, raising pressure on BoE
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LONDON (Reuters) - British inflation sank unexpectedly to a more than three-year low in December as hotels slashed prices, ramping up expectations that the Bank of England will cut interest rates as soon as this month. Consumer prices rose by 1.3% in annual terms compared with 1.5% in November, the smallest increase since November 2016, the Office for National Statistics (ONS) said on Wednesday. The pound slid below $1.30 and British government bond prices shot higher on the reading, which was..