Market News

Bank of England's Pill: inflation won't necessarily fall fast as demand slows - REUTERS

NOVEMBER 06, 2023

LONDON, Nov 3 (Reuters) - Bank of England Chief Economist Huw Pill said on Friday that Britain's persistently high inflation would not necessarily fall quickly as demand slows, a day after the central bank held its benchmark interest rate for a second meeting in a row.

"The overall judgments of the MPC has a little bit switched from being associated with demand factors to be more associated with supply factors," Pill said during an online presentation organised by the BoE.

"We can be less sanguine about the idea that the slowing of demand, the slowing of activity that we are seeing will lead to inflation returning to target."

Reporting by William Schomberg, editing by Sarah Young


This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics