Bank of England (BoE) Chief Economist Huw Pill warned on Tuesday that there is a risk of second-round inflation effects and expressed concern that the United Kingdom is seeing a structural change in price and wage setting. Pill added that he is concerned about further upside risks to inflation and...
Bank of England (BoE) Governor Andrew Bailey stated on Wednesday that the second-round effects of inflation are "less likely" given the weakening economy in the United Kingdom."We do expect and are beginning to see a pickup in inflation, [but] it's nothing like we saw a few years ago," he...
Bank of England Chief Economist Huw Pill called for vigilance regarding the potential second-round effects of an expected inflation uptick this year that was noted in the bank's monetary decision. While the official underscored that he remains optimistic that this increase won’t trigger a prolonged price...
Bank of England Chief Economist Huw Pill highlighted Tuesday that it wasn't clear two years ago that UK inflation would reach its target, hinting that more rate cuts may come in the future.At the UBS European conference in London, he noted that the central bank's policies have anchored...
Bank of England (BoE) Chief Economist Huw Pill underscored on Friday that there may be more room for additional interest rate cuts if inflation continues its downward trend, but pointed out that the direction of monetary policy will also depend on "economic disturbances."The Bank of...
Bank of England (BoE) Chief Economist Huw Pill stressed the need to be more cautious about inflation's dissipation and assessments before the next Bank of England's Monetary Policy Committee (MPC) meeting.During a speech at the Institute of Chartered Accountants for England and Wales, Pill...
Bank of England (BoE) Chief Economist Huw Pill stressed on Friday that the bank will need to continue with its restrictive monetary policy "at least for a while." "We should not promise rates are going to move down further in the very short term," Pill emphasized, adding that some second-round effects...
Bank of England (BoE) Chief Economist Huw Pill emphasized on Thursday the institution's cautious approach toward future interest rate adjustments.During a virtual Q&A session following the first interest rate cut since 2020, Pill indicated that the bank is not committing to further rate...
Bank of England (BoE) Chief Economist Huw Pill stated on Wednesday that the institution must be "realistic about how much any one or two releases can add to our assessment" concerning the link between the upcoming economic reports and future monetary policy decisions."While the MPC...
Bank of England (BoE) Chief Economist Huw Pill commented on Tuesday that it is "not unreasonable" to think that the central bank might gain enough confidence to start considering cutting its interest rates over the summer.Speaking at the Institute of Chartered Accountants in England and Wales...
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