BoE’s Pill: Bearing down on inflationary pressures remains necessary

Bank of England (BoE) Chief Economist Huw Pill said that the BoE has put too much weight on inflation being near the target rather than looking ahead, in remarks at the parliament's Treasury Committee on Tuesday.

Key takeaways

BoE in the past has perhaps put too much weight on inflation being at target instead of future risks.
Labor market is showing signs of stabilisation.

I see risks to inflation on the upside, caution is needed.

Disinflation has been slower than anticipated.
Bearing down on inflationary pressures remains necessary.”

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