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Deloitte comments on today's interest rate decision

Commenting on today’s ONS inflation figures, Debapratim De, director of economic research at Deloitte, said:

“Inflation has fallen sharply, as widely expected, but it is not tamed yet. Persistently higher services prices and continued strong wage growth suggest underlying price pressures linger on. With the economy reviving, The Bank of England will be looking for material easing in both areas before cutting interest rates.”