Reported about 8 hours ago
Huw Pill, the Chief Economist of the Bank of England, has criticized some colleagues for advocating rapid interest rate cuts, suggesting they are acting too hastily. He emphasized the need for a cautious approach, highlighting ongoing inflation concerns and a recent rise in wage pressures. Despite a recent split in the Monetary Policy Committee's voting, with some favoring significant cuts, Pill reiterated that it is premature to declare victory over inflation and that monetary policy should remain restrictive for now.
Source: YAHOO