Bank of England's Pill: Rate decisions now 'finely balanced'

Indicates ‘higher for longer’ rates

The Bank of England’s decision-making regarding the path for interest rates has become a more "finely balanced" issue in recent weeks, according to Huw Pill, the central bank's chief economist.

During a speech at the Marrakesh Economic Festival in Morocco today (12 October), he said: "We have done a lot over the last two years. A lot of that policy is still to come through, and there is still policy transmission in the pipeline. "Whether we have done enough - or whether we have more to do - I think is becoming a more finely balanced issue. But we will do what we need to do in order to have inflation at 2% on a lasting basis." Bank of England holds rates at 5.25% in 5-4 split vote However, Pill also gave strong indications that rates would remain higher...