London — British retail sales unexpectedly surged in August, boosting chances that the Bank of England will raise interest rates for the first time in a decade at its next meeting. More downbeat news, however, came from a central bank survey showing no sign of much quicker wage growth, tempering a jump in sterling. The Organisation for Economic Co-operation and Development (OECD), meanwhile, said uncertainty about its exit from the EU meant in 2018 Britain would suffer its slowest growth since the financial crisis. The contrasting signals underscored the challenge for the Bank of England, which last week surprised investors by saying it was likely to raise rates in the coming months if the economy and inflation pressures strengthened as expected. The central bank’s change of gear came despite mixed messages about the strength of the economy.
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