Central Banks
BOE’s Pill Says Market Turmoil De-Anchored Inflation Outlook
- UK lost about 600,000 workers since the pandemic hit
- Labor market remains ‘tight’ despite a weaking of demand
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Bank of England Chief Economist Huw Pill said market turmoil in the UK in recent weeks led to some “de-anchoring” of inflation expectations, and the central bank is working hard to tamp down those views.
“What we’re most concerned about is whether this self-sustaining inflation will persist,” Pill said Tuesday on a panel discussion in London hosted by UBS.