BOE Officials Say Brexit Fueling Inflation, Driving Up Rates
- Huw Pill says Brexit trade blow damages productivity
- Comments echo remarks made earlier by Catherine Mann
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Two Bank of England officials warned that Britain’s departure from the European Union is helping to stoke inflation and is one of the factors pushing up interest rates.
Chief Economist Huw Pill said Monday the trade blow dealt by Brexit adds to risks of the UK economy overheating. Policy maker Catherine Mann earlier in the day said Brexit was a “unique” shock that’s fueling inflation in the UK.