Central Banks
Traders Walk Back Bets on UK Rate Cut After BOE Economist Speaks
- Chief Economist Huw Pill says more work to do on inflation
- Official says it’s a question of ‘when-rather-than-if’ on cuts
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Bank of England Chief Economist Huw Pill said that the timing of an interest rate cut is still an “open question,” prompting traders to push back bets on a reduction next month.
Pill said on Wednesday that easing monetary policy is a matter of “when rather than if,” but he also continued to air his worries about the persistence of inflation even as other policy makers have signaled they’re ready to cut.