Official figures show the economy grew by 0.1% in November, although that was lower than had been expected.

Investors are now betting on an interest rate cut next month from the Bank of England.

Inflation falls for the first time in three months, sparking expectations rates may be cut to 4.5% in February.

The marginal dip in UK inflation is unusually important and offers some respite to the chancellor.

Overall prices in the US rose 2.9% compared with a year earlier, official figures show.