Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live
Rolling coverage of the latest economic and financial news The ONS also reports that sales at British department stores picked up in August following “stock availability issues” in July. Despite the inflationary squeeze on households, retail sales across Great Britain have risen over the summer. “Retail sales increased in the latest three months, with a particularly strong June for online outlets…
Japan has raised its interest rates to a 31-year high in an effort to combat inflation, according to recent reports. The central bank's decision comes amid ongoing efforts to control rising prices and maintain economic stability. Meanwhile, in Great Britain, retail sales have shown a positive trend, with department stores reporting an increase in August following stock availability issues in July.
Despite the inflationary pressures faced by households, overall retail sales have risen throughout the summer months, with online outlets, food stores, and retailers selling alcohol and beverages contributing to the growth.
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