Business · 2 hours ago
Pound rises as UK retail sales jump unexpectedly in August
Retail figures beat expectations with a 0.5% monthly increase, putting more pressure on the Bank of England to raise interest rates. Paul Dales, the chief UK economist at Capital Economics, noted that the resilience of the economy is nudging officials closer to higher borrowing costs. Meanwhile, the central bank held rates steady at 3.75% on Thursday while warning that inflation could top 4% early next year.
Reported by Reuters · How we write briefs