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MNI BRIEF: Restriction To Be Removed Gradually - Pill

Direction of travel for rates clear, but easing will be gradual, BOE Chief Economist says.
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MNI (LONDON) - The direction of travel for UK rates is clear and there will be an ongoing reduction of restriction, but policy easing will be gradual, Bank of England Chief Economist Huw Pill said on Tuesday, pointing to the latest earnings data as a sign of stickiness of wage growth

Speaking at a UBS conference in London, Pill said communication was a challenge  for the BOE, as the wider Monetary Policy Committee tried to accomodate the nine individual voices of the committee members. (See MNI BOE WATCH: Cuts 25BP, Sees Slow Return To Inflation Target)

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MNI (LONDON) - The direction of travel for UK rates is clear and there will be an ongoing reduction of restriction, but policy easing will be gradual, Bank of England Chief Economist Huw Pill said on Tuesday, pointing to the latest earnings data as a sign of stickiness of wage growth

Speaking at a UBS conference in London, Pill said communication was a challenge  for the BOE, as the wider Monetary Policy Committee tried to accomodate the nine individual voices of the committee members. (See MNI BOE WATCH: Cuts 25BP, Sees Slow Return To Inflation Target)