Deloitte comments on today's interest rate decision
Commenting on today’s interest rate decision from the Bank of England, Ian Stewart, chief economist at Deloitte, said:
“A weakening jobs market helped trigger yesterday’s big US rate cut and we expect a similar pattern to start in the UK, with softer job and wage data paving the way for the Bank of England to cut rates in November and December.
“UK interest rates could easily be as low as 4% by spring. For now, even as other central banks cut rates, the UK’s easing cycle is on hold, as the Bank of England awaits more data.”
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