UK | Investment
Monthly Review - June 2018
UK Economic Briefing - June 2018The Bank of England’s Monetary Policy Committee (MPC) voted to keep rates on hold at 0.5%, with no change in asset purchases and corporate bond holdings at GBP435bn and GBP10bn respectively.
- The headline and core CPI inflation rates held steady at 2.4% and 2.1%, y-o-y as a result of higher energy prices and the continued (though fading) pass-through of the 2016 sterling depreciation.
- Employment growth has continued at a relatively robust pace, with 146,000 new jobs created in the three months to April.
- Retail sales picked up from 1.4% to 3.9% y-o-y, the strongest since April 2017 partly reflecting a bounce-back from a snow-affected month, whilst the sales in May were boosted by the warm weather and the royal wedding.