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