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.

Shopping boom sparks UK rates hike
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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