London (Reuters) – The chief economist of the Bank of England (BOE), Huw Pill, said he was more at ease concerning the prices on prices in Great Britain than he was at the start of the year.
HUW PILL is among the members of the MPC, the BOE monetary policy committee, to be particularly concerned about a resurgence of inflation.
“It is always a question of risk balance. And you know, I have always been of the opinion that the risk balance was perhaps more inflationary than disinflationist,” he said at a conference organized by the Pictet Research Institute.
“I think that over time and the reassessment of market expectations, this position is probably changing. Personally, I am more comfortable today than six, nine or twelve months,” he continued.
The Bank of England (BOE) maintained its key rates last week and retained its forecast of inflation which would reach a peak of 4.0% this month and would only return slowly towards the target of 2% in the second quarter of 2027.
The latest figures for consumer prices in Great Britain show inflation at 3.8% over a year in August.
(Written by William Schomberg; Claude Chendjou, edited by Augustin Turpin)
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