UK stocks fall on hawkish cenbanks, weak retail sales data | Malay Mail

LONDON, April 22 — UK shares fell today as the growing prospect of aggressive monetary policy tightening coupled with a sharp drop in retail sales in the country, sparked concerns about economic growth.

“It’s increasingly difficult to see consumer spending avoiding a downturn this summer, even if only modest by some historic standards,” James Smith, developed markets economist at ING wrote in a note. BoE Governor Andrew Bailey said yesterday the central bank was walking a tight line between tackling inflation and avoiding recession with the strength of the labour market a key question right now.

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