The pound remains at close to its highest since June 2016 against the euro although it fell steeply from its highest point yesterday.
Yesterday’s data included UK house prices continuing to rise fast, at 0.5% in February and 10.8% for the year according to the Halifax. UK mortgage rates also hit their ighest rate since March 2020 at 32.83%.
This morning we have already had the BRC Retail Sales Monitor year on year for February come in at 2.7%. This was well below expectations, possibly due to Storm Eunice keeping people at home for the weekend, although non-foods rose by 6.9%.
We’ll have a couple of quiet days before the GDP reading for January on Friday, along with a blizzard of industrial data, as excitement builds for the interest rate decision next week.
