Deloitte’s chief economist comments on interest rate decision

Commenting on the interest rate decision announced today by the Bank of England’s Monetary Policy Committee, Ian Stewart, chief economist at Deloitte, the business advisory firm, said:

“This is a surprise, but it looks like one of tactics not strategy. The MPC wants to see more data and have more time to think through its response. But the Bank has signalled an easing of policy in August.

“Yet the fundamental challenge – the nature of the post-EU economic settlement - lies outside the Bank’s control. Providing clarity and confidence on that is the government’s central task.”

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Notes to editors

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

Member of Deloitte Touche Tohmatsu Limited.