LONDON – Bank of England Chief Economist Huw Pill said the British central bank will seek to bring fast-rising inflation down in a “measured way” and one “that doesn’t disturb the rest of the economy”, a newspaper reported on Thursday.
Pill – part of the majority of BoE policymakers who voted to raise Bank Rate to 0.50% this month, when some of his colleagues sought an increase to 0.75% – told the Southern Daily Echo that inflation was “uncomfortably high”.
He recognised the impact that price rises were having on households after he met charities helping people in poverty. “The quote ‘heating or eating’ is something that was front and centre in the discussion and that’s a very real issue,” Pill said.
(Writing by William Schomberg; editing by David Milliken)
