Bank of England chief economist Huw Pill has said the central bank may need to soften its monetary policy in the event the UK economy slows down significantly.
Speaking at an event hosted by the Institute of Chartered Accountants of England and Wales today (9 November), Pill alluded to potential interest rate cuts in a manoeuvre aimed at tackling flat growth for the UK, according to The Times. The chief economist also disregarded the potential of further rate hikes in the near future. His remarks were in contrast with BoE governor Andrew Bailey, who said at an event by the Central Bank of Ireland on Wednesday (8 November) that it was "too early" to talk about rate cuts. Andrew Bailey warns of risks to world economy posed by 'fragmentation' ...
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