The right time for the Bank of England to cut interest rates is probably still some time away, due to uncertainty about the persistence of longer-term inflationary pressures the central bank's Chief Economist Huw Pill said on Friday. "Crucially, for me at least, we don't have sufficient evidence yet. So that moment at which Bank Rate cuts might be possible is still some way off," Pill told businesses in an online briefing hosted by the central bank. He said the central bank should look through any temporary return of inflation to its 2% target in the months to come that was driven by external factors, and focus on ... (full story)