Bank of England chief economist warns against ‘complacency’ in fight against inflation – business live
Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The Bank of England’s chief economist is warning against complacency in the fight against inflation, after finding himself in a minority at this month’s BoE interest rate vote.“I think it should be seen as problematic, because our mandate is very clear; inflation at 2% at all times.”“I do fear a little bit that, because we saw inflat
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Rolling coverage of the latest economic and financial news
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The Bank of England’s chief economist is warning against complacency in the fight against inflation, after finding himself in a minority at this month’s BoE interest rate vote.
“I think it should be seen as problematic, because our mandate is very clear; inflation at 2% at all times.”
“I do fear a little bit that, because we saw inflation go to 11%, policy discussion becomes, ‘oh inflation at 3% is not so bad’.”
Details
“The world is becoming more uncertain and becoming more complex,” Mr Pill concluded.
“What we can guarantee is that monetary policy is not adding to uncertainty, and I think that is where we should keep the focus.”
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Originally published at www.theguardian.com.
