Deloitte chief economist comments on the Bank of England's interest rate decision has been saved
Deloitte chief economist comments on the Bank of England's interest rate decision
16 June 2022
Commenting on the latest interest rate decision from the Bank of England, Ian Stewart, chief economist at Deloitte, said:
Today’s UK interest rate rise is part of a major tightening of monetary policy across the industrial world. For the first time in more than 20 years the Bank of England is tightening monetary policy in anticipation of a major economic downturn.
“With inflation now likely to peak around 11% - and interest rates set to rise significantly from here - the squeeze on consumers is intensifying. Whether or not the economy falls into recession, conditions are likely to feel recessionary for many consumers and corporates.”
Notes to editors
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The information contained in this press release is correct at the time of going to press.
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