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Yesterday we had the minutes released for the Bank of England interest rate decision. Within these minutes we found that their had been a unanimous vote in favour of another round of Quantitative Easing. This was a bit of a shock to the market as it was expected we’d see a split decision on another QE program however this decisive action only added to investors confidence that the UK are better prepared than most for further Eurozone turmoil.

Today the National Statistics will be releasing the UK retail sales figures. These figures are used as a good indicator of consumer spending and generally and increase in spending is seen as positive for Sterling. Retail sales figures are expected to contract YoY from 0.6% to 0% however any deviation from this will surely cause market volatility.