BoE's Huw Pill hints at further rate hikes if inflation remains 'stubbornly high' - reports

'Underlying persistence'

clock • 1 min read

Inflation is likely to remain “stubbornly” above the Bank of England’s 2% target, its chief economist Huw Pill said in a speech at the Festival of Economics in Bristol yesterday (14 November).

According to The Times, Pill said: "One of the risks looking forward is that the underlying persistence in inflation may be a bit more sustained because what we are seeing is a slowdown in activity, which is more supply-driven than demand-driven." The chief economist warned that wage growth remained "very strong" in the UK, as service inflation had been "stubbornly high", according to Bloomberg. BoE's Mann: Climate change inflation is a 'concern' for all central bankers While this did not mean that the central bank needed to raise interest rates further, Pill said the BoE was "prep...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot