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BoE Chief Economist Calls for Timely but Gradual Rate Hikes to Combat Iran War-Driven Inflation

2026-05-14 17:02:27

IN3.02%

AT-0.43%

Huw Pill, chief economist of the Bank of England, called for "timely but gradual" rate hikes to prevent inflation pressures stemming from the Iran war from becoming entrenched in the UK economy. Pill was the sole voter in favor of a rate increase at the BoE's April policy meeting. Speaking at a NatWest-hosted event, he stated that policymakers should consider raising rates sooner rather than later, as waiting for market pressure to force action could present greater challenges than taking a more proactive approach.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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