Bumper sales of TVs and food in June, triggered by the World Cup, have resulted in UK retailers reporting an average 43% increase in overall sales. However, the overall impact has been lower than forecast, raising fears it could fall once the World Cup is over.
British Gas saw losses of £75m in the second half [...]
Interest Rates remain unchanged at 4.5%: (http://www.bankofengland.co.uk/index.htm)
Inflation has risen from 2.0% to 2.2%: (http://www.statistics.gov.uk/)
Consumer Confidence has fallen from -4 to -5: (http://www.gfknop.co.uk/)
The Bank of England released their monetary policy minutes and it was revealed the policy makers voted 7 – 1 to keep the benchmark interest rate at 4.5% this month.
However, resurgent inflation has prompted investors to speculate that the BoE will raise interest rates by 25 basis points by September to 4.75%.