Overall Market Backdrop, December:
- In December, the Office for National Statistics (ONS) disclosed that the consumer price index experienced a 3.9% annual rise in November, marking a notable decline from the 4.6% in October and the 6.7% increase in September.
- During its December meeting, the Bank of England (BoE), with a majority of 6-3, opted to maintain interest rates at a 15-year high of 5.25%, marking the third consecutive decision of no change.
- The S&P 500, finishing just below its record, was propelled by a significant change in interest rate forecasts, influenced by recent data indicating a more rapid decline in inflation than previously anticipated across Western economies.