UK rate cuts must wait, says BoE chief economist

Huw Pill says policy must remain restrictive to tackle persistent components of inflation

Huw Pill
Huw Pill
Bank of England

Bank of England (BoE) chief economist Huw Pill has said rate cuts must wait until persistent components of inflation are squeezed out.

“The outlook for UK monetary policy in the coming quarters has not changed substantially since the beginning of March,” Pill said in a speech today (April 23).

Service prices inflation, pay growth and labour market tightness are the three key indicators used by the monetary policy committee to measure inflation’s persistence. Pill said there has been little news

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account