Press releases

Deloitte senior economist comments on the Bank of England's interest rate decision

16 December 2021

Commenting on the latest interest rate decision from the Bank of England, Debapratim De, senior economist at Deloitte, said:

“Today's near-unanimous decision on raising interest rates indicates that the Bank of England sees the tightening labour market and rises in input costs as contributors to medium-term inflation risk. Given concerns around the Omicron variant and latest GDP data showing a weak start to the fourth quarter, the Bank's decision will come as a surprise to many.

“The rate rise will increase interest payments for some households but the overall effect on disposable incomes could be modest for families who have reduced expenses and accumulated savings during the pandemic.”


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 NSE 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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