Money Minute Thursday 19 September: UK retail sales and interest rates
Today we get the official retail sales data for August, plus the Bank of England's latest monetary policy decision and America's weekly jobless claims figures.
This morning in the UK, we get the official retail sales data for August.
Recent surveys from industry bodies such as the CBI and British Retail Consortium have been somewhat gloomy.However, official data has so far suggested that retail sales are holding up just fine, and that the surveys are perhaps being skewed by the respondents' fears over Brexit.As long as the labour market remains buoyant, and wages continue to rise, consumption is unlikely to weaken significantly.
Then, at mid-day, the Bank of England releases its latest monetary policy decision.The bank rate is currently sitting at 0.75% and that is not expected to change.The reality is that until Brexit is resolved one way or another, the Bank is likely to remain on hold, almost regardless of what happens with the economic data.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Meanwhile, in the US, in the afternoon, we have the usual weekly jobless claims figures. So far there are no real signs of US labour market weakness, despite market fears of recession.
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Are the wealthy dodging more tax than previously thought?
A new report suggests tax non-compliance among the wealthy could be worse than previously imagined. Is an overly complex system partly to blame?
-
Six out of 10 retirees who accessed a pension didn’t use Pension Wise - how does the guidance service work?
Many pension savers don’t bother using the free government-backed service Pension Wise. So, how does it work, and could it be useful for you?