Press releases

Interest rates: Deloitte’s chief economist comment

10 May 2018

Commenting on the latest interest rate decision, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“Until recently it looked like a racing certainty that the Bank would hike today, but weak growth and inflation knocked that prospect on the head. So the MPC, quite reasonably, followed Keynes’ supposed dictum that “when the facts change, I change my mind”.

What has not changed however is the Bank’s view that the UK economy is running out of capacity. That leaves the door open for a rate rise later this year – provided that things pan out roughly as the Bank expects.”


Notes to editors

About Deloitte
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see for a detailed description of the legal structure of DTTL and its member firms.

Deloitte LLP is a subsidiary of Deloitte NWE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.

The information contained in this press release is correct at the time of going to press.

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