Central Banks
BOE’s Pill Says UK Workforce Dropouts Point to More Rate Hikes
- UK has lost at least 600,000 workers since the pandemic hit
- Tight labor markets are keeping upward pressure on inflation
Huw Pill
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Bank of England Chief Economist Huw Pill said a sharp drop in the size of the UK’s workforce is keeping upward pressure on inflation and pointing toward further interest-rate increases.