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BRC lobbies for rate cut as retail sales slow

The British Retail Consortium has called for the Bank of England to cut interest rates, after its sales monitor reported a like-for-like sales rise of just 1.8% in August across the retail sector, against 2.5% last year. BRC director general Kevin Hawkins said the squeeze on disposable income and worries about interest rates, which have risen five times in a year, were hitting retail sales and shop prices.