BOE Chief Economist Says He’d Sacrifice Growth to Cut Inflation

Bank of England Chief Economist Huw Pill said policy makers would sacrifice growth in order to bring down inflation in the UK, saying there’s a risk of prices developing a “self-sustaining momentum.”

Speaking at a web event on Tuesday, Pill said he further tightening of monetary policy will be needed in the months ahead, and the BOE was ready to act “more aggressively.”