Central Banks
BOE Trying to Curb Inflation Without Unnecessary Cost, Pill Says
- Chief Economist Huw Pill speaks after BOE warns of recession
- Says markets were pricing ‘too aggressively’ on rate increases
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The Bank of England is trying to strike a balance between bringing inflation back to target and preventing an unnecessarily deep recession by raising interest rates too aggressively, Chief Economist Huw Pill said.
Speaking to CNBC, Pill said the BOE faced a “difficult trade-off” in achieving the 2% target without overshooting.