All the day´s economic and financial news, including the ECB´s latest policy meeting and UK retail sales figuresLatest: UK retail spending jumped last monthIntroduction: European Central Bank decision todayWill ECB call time on its QE programme?Bond-buying scheme runs out in SeptemberLast night, US interest rates hiked again 10.15am BST Ian Gilmartin, head of Retail & Wholesale at Barclays Corporate Banking, is encouraged by the jump in retail sales:`Record breaking temperatures in May had shoppers running to the tills to stock up on food and drink, with DIY and garden stores also receiving a boost from the warm weather. The really encouraging aspect to today´s figures is the breadth of positive data, with growth posted across the different parts of the retail sector. We shouldn´t get carried away as it´s still very tough out there, but the truth is that despite continued rumours of the demise of our retail industry, many retailers are simply getting on with the job and continuing to attract customers through their doors.Of course, we´re not going to have a heatwave and a Royal Wedding to help drive sales every month, but the World Cup kick off should help supermarkets in particular maintain this momentum over the next month or so.` 10.09am BST The recent pick-up in UK wages may also be driving retail sales higher, suggests Chris Williamson of Markit. UK retail sales buoyed by warm weather and Royal Wedding in May, but rising pay is also helping pic.twitter.com/OczNxUGbm1 Continue reading...
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