Central Banks
BOE’s Pill Says Action to Tame Inflation Probably Isn’t Over
- Says the central bank has acted decisively on prices
- But policy makers underestimated how much inflation would rise
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Bank of England Chief Economist Huw Pill said policy makers can’t let the current spike in inflation become a long-term problem for the economy, and that more tightening can be expected to get it under control.
“What is key for us at the Bank of England is to ensure that that one-off potential impact on inflation does not become embedded into wage behaviour and into pricing behaviour,” Pill said at an event in Bristol, England.