BOE’s Top Economist Says ‘Persistent Response’ Needed on UK Inflation
- Says ‘some work to do’ to get inflation back to 2% target
- Top of Table Mountain on interest rates remains ‘very cloudy’
This article is for subscribers only.
Bank of England Chief Economist Huw Pill said sticky UK inflation may require a “persistent” monetary response, raising the possibility that the central bank has not yet reached a peak in its interest rate-hiking cycle.
Speaking at an Official Monetary and Financial Institutions Forum event Monday, Pill said the BOE’s Monetary Policy Committee still had “some work to do” in order to get inflation back down to the 2% target, from its current level of 6.7%.