“UK Retail Sales Beat Forecasts in August, But Slower Annual Growth Keeps Boe Rate Cut Bets Alive As Inflation and Wages Remain in Focus.”, – WRITE: www.fxempire.com
On Thursday, September 18, The Boe Kept Interest Rates at 4%. Crucialally, The Number of Votes in Favor of A Rate Cut Fell From 5 to 2. The vote count suggested a lesson dovish monetary Policy Committe.
Bank of England Governor Andrew Bailey Commented:
“Althugh We Expert Inflation to Return to Our 2% Target, We’re Not Out of the Woods Yet, So Any Future Cuts Will Need To Be Made Gradulaly and Carefully.”
James Smith, Research Director at the Resolution Foundation, Commented On The Bank of England’s Inflation Challenge, Stating:
“Looking Ahead, Then, Inflation Is Expert To Rise Next Month to AUND 4% AND THAT FALL BACK GRADUAL AFTER THAT. This is Inflation That Is Too High For Bohe. and EASING Wage Growth. ”
GBP/USD Reacts to The Retail Sales Report Reacting to the Data, The GBP/USD SLID FROM $ 1.35455 to a Low of $ 1.35202. On Friday, September 19, The GBP/USD Fell 0.25% to $ 1.35204. The Pound’s PullBack Underscores How Spending May Have Peaked, Boosting Heps of Monetary Policy EASING.