Interest rates: Deloitte chief economist comments
2 November 2017
Commenting on today’s interest rate decision, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:
“Today’s rate hike has been on the cards for eight weeks. Short of walking down Threadneedle Street wearing a sandwich board telling us that the Bank was about to raise rates Mr Carney couldn’t have made his intentions clearer.
“The Bank is on a tightrope, it wants to dampen down inflation and consumer borrowing without knocking out the UK consumer. Incomes are shrinking and households need cheap finance.
“Today’s rise is a warning shot, not the start of quick fire campaign of rate hikes. With the Bank labouring the risks to growth we are heading into the most cautious, tentative rate hike cycle in modern history.”
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