The Bank of England must “see the job through” in its battle against inflation, according to BoE chief economist Huw Pill, who argued the fight to stop prices rising was not yet over.
Speaking at a research conference organised by the South African Reserve Bank today (31 August), Pill warned that inflation remained "too high" and said there was "no real room for complacency". Corporate defaults are likely to be 'far worse than the Bank of England's base case' "The key element is that we, on the Monetary Policy Committee, need to see the job through and ensure a lasting and sustainable return of inflation to the 2% target," Pill said. While he acknowledged the risk of pushing interest rates too high and "inflicting unnecessary damage on employ...
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