Inflation declining fast
UK prices actually declined in the month of November, as such helping inflation to once again fall faster than expected, dropping to 3.9 per cent over the year.
At the peak inflation was above 11 per cent, but is now at the lowest level in more than 2 years.
Source: James Foster
The Eurozone has seen inflation fall even further, down to just 2.4 per cent by November.
Australia is obviously further behind on this journey, though the experience of other countries seemingly augurs well here.
The 2-year gilt yield in the UK has fallen to 4.1 per cent, down from recent highs of 5½ per cent, with the Bank of England potentially expected to cut by up to 6 times in 2024.
Australia's 3-year bond yield briefly touched the lowest level in more than six months, at 3.6 per cent, while in the US the average 30-year mortgage rates fell to the lowest level since June at 6.8 per cent.
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