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:
“In isolation, a cooling jobs market and soft consumption makes a strong case for lower UK interest rates. But with UK inflation outstripping all other G7 countries, the Bank of England needs more convincing evidence of an ebbing of inflation pressures before cutting rates.
“We predict the next interest rate cut to come in November, followed by a further 25bp reduction next spring.”
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