Deloitte comments on interest rate decision
Deloitte chief economist, Ian Stewart, comments on today’s interest rate decision
“The Bank of England has stayed in step with the European Central Bank and the Federal Reserve with today’s interest rate rise. A stronger economic backdrop, the easing of fiscal policy in the Budget and still high inflation have trumped potential concerns about the banking system as a driver of monetary policy. Yet the turbulence in the financial markets has increased the uncertainty facing the UK.
“All eyes are now on the extent to which recent events in the banking sector translate into tighter credit conditions and whether they weigh on growth.”
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