BOE Should Not Be Dragged Into Wider Economic Aims, Pill Says

Monetary policymakers should not try to fix all Britain’s economic problems despite the issues the country faces but stick to the core job of tackling inflation, Bank of England Chief Economist Huw Pill said in a call for “conservative central banking.”

Speaking at the University of Birmingham, Pill said central banks should not be tempted into pursuing “fragile optimizing approaches” to growth in a world of “radical uncertainty and deep structural economic change.” Instead, “more weight should be given” to the basics.