UK can’t say ‘job done’ on combating inflation, says Bank of England’s Huw Pill

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Chief economist warns that ‘cautious’ method to additional rate of interest reductions is required

The Bank of England just isn’t ready to declare “job done” in tackling inflation amid issues over rising costs hitting households, Threadneedle Street’s chief economist, Huw Pill, has stated.

Speaking a day after the central financial institution reduce rates of interest and slashed its progress forecasts for 2025, Pill warned {that a} “cautious” method to additional rate of interest reductions could be required as inflation pressures remained.

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