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Retailers' plea to cut interest rates

Retail industry leaders today appealed to the Bank of England to cut interest rates after a new survey found high street sales fell again in May.
Hopes that consumers would begin spending after the General Election failed to materialise as like-for-like sales dropped 2.4 per cent last month, the British Retail Consortium said.

The figures were in line with the expectations of economists and come a day after research firm Verdict warned growth on the high street during 2005 would be the slowest for over 40 years.

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