BOE’s Pill Says U.K. Needs More Rate Hikes to Curb Inflation

The Bank of England will likely to need to raise interest rates again to help keep a lid on inflationary pressures coming from the U.K. labor market, according to the central bank’s chief economist.

Huw Pill’s comments, made in an interview on CNBC, appear to endorse speculation from economists and investors that policy makers have started a series interest rate increases following a decision yesterday to raise the key lending rate to 0.25% from 0.1%.