KPMG comments on Bank of England’s MPC announcement | KPMG | UK

KPMG comments on Bank of England’s MPC announcement

KPMG comments on Bank of England’s MPC announcement

Commenting on today’s Bank of England’s MPC announcement, Yael Selfin, Chief Economist at KPMG UK, said:

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Commenting on today’s Bank of England’s MPC announcement, Yael Selfin, Chief Economist at KPMG UK, said:

“The Bank of England’s MPC decision not to rock the boat in the middle of the summer holiday period and to keep interest rates on hold in August, was supported by both its slightly weaker outlook for growth over the next two years and inflation figures in June.

“The MPC however believes it is currently more hawkish than the markets are on the future path of interest rates, and so could undoubtedly catch many households and businesses not sufficiently prepared for the gradual rise in interest rates envisaged over the next few years.

“Uncertainties around the Brexit transition and future UK/EU trading relationships make future interest rates movements less easy to anticipate at present, but this should not discourage businesses and households from preparing for a future with higher rates.”


-ENDS-

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff. The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
 

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