Interest Rates

Bank of England has ‘reasonable way to go’ before rate cuts

Huw Pill used a speech on Tuesday to caution that a tight labour market and still-high pay growth data would require a more cautious attitude.

Bank of England and the Royal Exchange in London. Picture: Moment RF

Interest rates cuts are far from imminent, the Bank of England's chief economist has signalled, amid concerns about persistent inflation in the British economy.

Huw Pill used a speech on Tuesday to caution that a tight labour market and stubborn pay growth data would require a more cautious attitude from the Monetary Policy Committee (MPC) when it meets in May.

Addressing the University of Chicago Booth School of Business in London, he said that "the ...