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Week in Review - 21 August 2009

Chanderika Chouhan August 21, 2009 11:45

Week in Review  

 ↔ Inflation

CPI inflation came in stronger than expected in July and held steady at 1.8%. RPI inflation edged up to -1.4%, from -1.6% in June.

↑ Retail sales growth  

Retail sales volumes grew by 1.2% in the three months to July, compared with the previous three month, up from 0.9% in June.

↑ Public sector borrowing

Public sector net borrowing was £8bn in July, the largest net borrowing figure for July since records began in 1993. The Treasury forecasts net borrowing will reach £175bn in the current financial year.

MPC minutes The MPC voted 6-3 to expand the QE programme by £50bn, with the dissenting members voting for an injection of £75bn. This was the first non-unanimous vote since February.

 

 

 

 

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