FT.Com: UK services data reduce likelihood of rate cut The likelihood of the Bank of England delivering an interest rate cut this month has been reduced by news of a stronger than expected expansion in the UK service sector. Data published by the Chartered Institute of Purchasing Managers and the Royal Bank of Scotland, showed the headline Business Activity Index improved to a three-month high of 56.1 in October, compared to expectations of it remaining steady at 55.0. A figure above 50 indicates expansion; a number below 50 contraction.
