Interest rates – the decision to hold interest rates at 4.75% was backed by all 8 members of the Monetary Policy Committee (MPC).
However the MPC was concerned that increased inflation could lead to bigger wage demands.
Many analysts expect the bank to raise interest rates again by the end of this year
Consumer spending is holding up well after improving in Q2 and the housing market remains buoyant
Retail Sales remained steady in August with shoppers apparently undeterred by last month’s rate hike
Sales rose 0.3% in August taking annual growth to 4.3%
Unemployment at a 6 year high in July (1.7m)
Benefit claims fell by 3,900 in August
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