Other: UK retail sales growth moderates in March

In the UK, the retail sales rose by 0.3% M/M and 4.8% Y/Y in March following an upwardly revised 1.6% M/M and 5.1% Y/Y in February. The underlying trend slowed, as the volume of retail sales in the three months January to March was only 0.4% higher than in the previous three months compared to an increase of 1.2% in the three months to February. The more modest growth in retail sales suggests that the Bank of England won??™t have to put on the brake to slow economic growth and bring inflation back to its target.