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Bank of England chief economist: ‘More work to do’ to get to 2%
The Bank of England is navigating a narrow path between thrusting the UK economy into full-scale recession through further monetary tightening and easing off from its task of bringing down the inflation rate to 2%. Huw Pill, the Bank’s chief economist and executive director for monetary analysis and research, told an OMFIF audience on 16 October that the Bank might still have work to do to reduce inflation further. He left open how the Bank may still be thrown off course by the disturbed international environment. Headline inflation falling, but some components proving persistent The latest figures from the Office ... (full story)