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Is the UK recovery losing momentum?

The Bank of England next month has a very difficult decision to make regarding the UK economy amid signs that inflation could be coming back to life while the UK property market would appear to be stalling. Today's news that retail sales growth in the UK have now slowed to just 0.5% in the month of July is also a further hammer blow to the Bank of England and the UK government as they bid to inject confidence and stability into the UK economy.

As we have mentioned on numerous occasions, the Bank of England has a decision to make in the short-term on whether to increase base rates to try and control inflation or maintain base rates at 0.5% to ensure that cheap credit is available for the foreseeable future to assist the UK economic recovery. There is no doubt that the ongoing recovery is beginning to stall and while much of this may well be media driven, with headlines causing concern in both consumer and business circles, the reduction in the public sector budget is also having an impact.

In many ways the UK economy is proving very difficult to forecast because just when we begin to see light at the end of the tunnel further issues come into play and the mist starts to descend.

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