[ING: Weak Inflation and Employment Data Reduce the Probability of a Significant Rate Hike by the Bank of England] Jin10 News, May 20 – The UK’s April CPI annual rate slowed to 2.8% from 3.3% in March, below economists’ consensus forecast of 3.0%. ING analyst James Smith stated in a report that Wednesday’s inflation data, combined with this week’s weak UK employment data, has reduced the likelihood of a significant rate hike by the Bank of England. According to data from the London Stock Exchange Group, investors’ expectations for a Bank of England rate hike in June stand at 19%, down from 42% prior to the release of this week’s UK employment and inflation data.