Deloitte comments on today's interest rate decision
Commenting on today’s interest rate decision from the Bank of England, Debapratim De, director of economic research at Deloitte, said:
“Weak underlying growth and subdued business and consumer sentiment have offset inflationary pressures from a relatively resilient labour market to some extent. That has created room for this widely expected rate cut by the Bank of England.
“With trade policy uncertainty set to remain elevated for some time, we expect this weakness to continue into the summer months and further policy easing to take interest rates close to the 3.5% mark by the end of this year.”
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