BOE’s Chief Economist Says UK Fiscal News Needs Significant Policy Response
- Chief economist says time to assess fiscal plans is November
- Active BOE gilt sales should go ahead if markets stay orderly
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Bank of England Chief Economist Huw Pill said the UK’s government’s fiscal announcement and the market reaction that followed it requires a significant monetary policy response, but the best time to assess and react to their impact is at the institution’s next meeting in November.