Economics
BOE Chief Economist Pill Calls for ‘Measured’ Approach to Rate Hikes
- Chief economist pushes back against half-point increases
- Misguided market perceptions ‘can shape reality,’ he warns
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Bank of England Chief Economist Huw Pill pushed back against the prospect of bigger-than- usual interest-rate rises as he made the case for a “measured rather than activist approach” to policy making.
Addressing the Society of Professional Economists, Pill signalled that the BOE was likely to continue with quarter-point hikes, despite four members of the central bank’s rate-setting committee voting for a half-point rise this month.