The Bank of England is seen behind holly bushes in the City of London March 15, 2013. — Reuters pic
LONDON, Sept 19 — The British pound steadied today as traders waited for retail sales numbers and the Bank of England monetary policy meeting due later.
Retails sales growth is expected to have stalled in August on the previous month, according to Reuters poll of economists, while year-on-year growth will fall to 2.9 per cent from 3.3. per cent.
The numbers are due out at 0830 GMT and follow lower than expected inflation data earlier this week, which was a boost to consumers ahead of Britain’s departure from the European Union.
The BoE is forecast to keep rates on hold at 0.75 per cent when it announces its policy at 1100 GMT, and investors will be watching closely for policymakers’ views on Brexit and the outlook for the British economy, which contracted in the second quarter but has since recovered somewhat.
Sterling was unchanged at US$1.2469 (RM5.23), while against the euro the currency was down marginally at 88.535 pence. — Reuters