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Deloitte comments on today's interest rate decision

22 June 2023

Commenting on today’s interest rate decision from the Bank of England, Debapratim De, senior economist at Deloitte, said:

“Today's interest rate decision points to growing concerns within the Bank of England that price pressures might take longer to unwind than previously forecast.

“By surprising markets with a sharper rise than predicted, the Bank will be hoping to stabilise rate expectations, which have risen significantly in the past few weeks. If growth and inflation continue to surprise on the upside, that objective might prove difficult to achieve.”