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MNI BRIEF: BOE's Pill Calls Nov 'Live Meeting' For Rate Hike

(MNI) LONDON
LONDON (MNI)

New Bank of England Chief Economist Huw Pill told the Financial Times the November Monetary Policy Committee "is live," the decision on a rate hike is finely balanced and he's in the inflation fighting business.

Pill went on to suggest that the sharp upward shift in the rate curve, which had Bank Rate going to 1.25% at the end of 2022, appeared exaggerated. "Maybe there's a bit too much excitement in the focus on rates right now" he said, adding that they did not see "a need to go to a restrictive stance." Bank Rate is currently 0.1% and Pill gave no indication of the size of hike he thought would be debated in November, although there is a widespread view the first hike is most likely to be 15 basis points.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Bank of EnglandCentral Bank NewsPolicy NewsHomepageCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion

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