Wednesday, Aug 30, 2006

...It's all looking rosy for more IR hikes!

BBC: Summer sales spree for UK stores

UK retailers enjoyed their strongest sales growth in one and a half years during August, despite the recent rise in interest rates, the CBI has said.
Its latest distributive trades survey confounded expectations of a post World Cup dip, with 45% of retailers saying sales were up and 33% reporting a fall.

The positive balance of 12% is the best since December 2004 and the CBI now expects similar growth in September.

It said stores were doing less heavy discounting and were raising prices.

Posted by tyrellcorporation @ 04:20 PM (525 views)
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3 Comments

1. Thesqueeze said...

oh dear, best raise rates again....it's the only way...!

Wednesday, August 30, 2006 04:26PM Report Comment
 

2. kpjcomp said...

If this is true, what's the bets the BOE will need to rise again on 7th Sept?
And proves that 0.25% rise is too little too late, BOE you better start thinking 0.5 to 1% rise next Sept,
as we've found with the FED 0.25% increases are too soft. (yes I know it's unlikely the bank will do the right thing, but heh you never know!!).

Wednesday, August 30, 2006 06:26PM Report Comment
 

3. The Bald Man said...

I wonder where all the money is coming from? Re-mortgaging houses?

Wednesday, August 30, 2006 07:36PM Report Comment
 

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