BoE's Pill says a rate hike need not be start of long series
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- ✓Bank of England Chief Economist Huw Pill said on Thursday that a future interest rate hike should not signal a long series of increases.
- ✓Pill noted, "We shouldn't give the impression that because we act now, we are on another staircase." Markets expect a rate rise after next week's meeting.
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- BUSINESS
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- Reuters
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- 2 Minute(s)
- Market Focus
- India Economy
BANGKOK, Oct 15 (Reuters) - A future interest rate increase by the Bank of England should not be interpreted by investors as the start of a long series of increases, BoE Chief Economist Huw Pill said on Thursday.
"We shouldn't give the impression that because we act now, we are on another staircase ... like we saw in 2022 and 2023. It's a different shock," Pill said during a panel discussion hosted by the Bangkok Economic Festival on the sidelines of International Monetary Fund meetings in the city.
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On Wednesday, Pill – who has voted for higher rates since April – had pushed back against financial market bets for four rate rises over the next 12 months.
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