Analysts at TD Securities are looking for the UK’s retail sales to post a modest 0.2% m/m gain in August, slightly above consensus expectations for a -0.1% decline.

“August generally saw good weather, particularly for the Bank holiday weekend at the end of the month that likely prompted a wave of staycations, which should be supportive of spending. For the BoE, we think that today's meeting should be an entirely uneventful placeholder. It's impossible for the BoE to act one way or the other until Brexit is resolved.”