The latest inflation numbers have come as something of a surprise, showing that U.K. inflationary pressures are easing more quickly than generally thought. U.K. October CPI fell 0.2% month on month against a general consensus forecast of +0.1%, with the year on year rate falling to 4.5% against a general consensus forecast of 4.8%. The rapidly improving inflationary outlook will allow the Bank of England to cut rates aggressively in coming months.