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Still Room to Ease Interest Rates a Tad

Retail Sales Growth Good News But There's Still Room to Ease Interest Rates a Tad

"Confirmation today of the excellent increase in retail sales coming on top of yesterday's news of a very low annual inflation rate and high employment levels continues the good news and suggests that GDP growth for the year will be relatively strong", said Employers & Manufacturers Association Chief Executive, Alasdair Thompson.

"There is no need, however, to dampen this growth and in our view the OCR could still be eased a further 0.25% given the signs that the labour market will soften, that private debt levels will constrain ongoing sales growth and that the world economy may take a while longer to turn around than had earlier been hoped", concluded Mr Thompson.


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