Press releases

Deloitte's chief economist comments on interest rate decision

17 March 2022

Commenting on the latest interest rate decision from the Bank of England, Ian Stewart, chief economist at Deloitte, said:

“Today’s interest rate move shows that the Bank of England is more worried about the inflationary effects of surging commodity prices than the deflationary effects. Like the US Federal Reserve, the Bank is signalling an unyielding approach in the face of surging inflation. That points to further increases in interest rates on both sides of the Atlantic in the next 12 months, and to weaker growth.”


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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