Shopping boom sparks UK rates hike

Sterling strengthened against the dollar today after an upbeat survey on retail sales fuelled expectations of more interest rate hikes.

Tue, 01 May, 2007 - 14:30

Sterling strengthened against the dollar today after an upbeat survey on retail sales fuelled expectations of more interest rate hikes.

The CBI’s latest distributive trade survey found a balance of plus 44% of retailers reporting higher sales volumes in the first half of April after strong Easter trading – the highest balance since May 2004.

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CourtsBusinessHeathrowPlace: UKPerson: Howard ArcherPerson: James KnightleyPerson: John LongworthPerson: Karen WardEvent: EasterOrganisation: CBIOrganisation: Bank of EnglandOrganisation: Monetary Policy CommitteeOrganisation: Global InsightOrganisation: INGOrganisation: GfK NOPOrganisation: HSBCOrganisation: Bank of England’s Monetary Policy CommitteeOrganisation: MPC
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