Forex News: UK Price Cuts Sales Rise
Retail sales were on the up for the UK in th month of January according to official figures. Growth rates were steady and this was thought to be down to big price cuts. The retail market saw growth of 0.8% last month with the biggest discounts being on electrical goods.
The last three months before January saw a different story, this is thought to delay any interest rate cut for the UK, if indeed there is likely to be one at all.
A slowdown for the UK economy looks likely but it is expected to be somewhat less severe than first thought.