Huw Pill
BoE faces its toughest test in four years
Path to contain inflation from supply-side shocks is different compared with 2022–23
BoE’s new forecast evaluation unpacks causes of errors
Global shocks and wage growth led bank to underestimate inflation persistence
BoE’s Pill focused on ‘nominal momentum’ in UK economy
Chief economist says inflation dynamics seem to have changed, but there is a lot of noise in the data
Bailey switches sides as BoE holds at 4% in 5–4 decision
Members’ views, published for first time, show disagreement around staff’s central projection
Pill says BoE has focused too hard on inflation forecast
Chief economist argues “richer and more robust analysis” is needed
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
BoE adjusting main models after forecast misses
Bailey says policy-makers decided to “aim off” main forecast after repeated errors
BoE policy-makers highlight value of ‘outreach’ efforts
Talking to public has been “sobering” and helped shape communication, officials say
BoE’s Pill says UK vulnerable to inflation persistence
Confluence of factors leaves UK in worse position than others, chief economist says
Balance sheet policy needs rethink, economists say
BoE chief economist says central banks should focus more on risks of assets they buy
BoE’s Pill says government must ‘respect’ independence
Government and central bank have clashed over causes of UK’s gilt market turmoil