BoE’s Huw Pill Warns Against Betting on Four Rate Hikes as Inflation Risks Mount
Bank of England Chief Economist Huw Pill has pushed back against market pricing that implies four quarter-point rate hikes over the next year, underscoring growing uncertainty inside the Monetary Policy Committee as it weighs the inflation shock from the Iran war. His remarks suggest policymakers are not yet convinced that higher energy costs will justify a sustained tightening cycle, especially with growth risks still elevated.
