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UK Data 5/21 - Retail Sales and BoE Meeting Minutes

Retail Sales:


Retail Sales April (m/m): 1.3%
Forecast: 0.4%
March (m/m): 0.5% (revised up from 0.1%)

The year-on-year data has been so far in 2014.

Retail Sales April (y/y): 6.9%
March (y/y): 4.8%

BoE Meeting Minutes:

Official release: Minutes of the Monetary Policy Committee Meeting 7 and 8 May 2014

The minutes reveal a growing hawkish sentiment within the MPC, as the committee saw a "less fragile" recovery, and a "benign" global backdrop. 

Investors and traders have been pricing in a rate increase early to mid-2015. The tone of the recent minutes and this week's inflation data adds weight to these rate-hike expectations.