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.
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.
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.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Would you delay retirement to help your children through university?
Parents are missing out on as much as £45,000 that could have gone into their pensions because they are using that money to pay their children’s way through university, according to new research
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoid
A couple faces a substantial stamp duty bill after trying to reduce the amount they owed