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BOE’s Pill Says Summer Cut in Play in New Dovish Signal
Bank of England Chief Economist Huw Pill said a summer interest-rate cut is on the table but cautioned there is “still some work to do” to curb domestic price pressures in the UK. Pill said the BOE has “capped” underlying inflation measures and that it is “not unreasonable” to expect the Monetary Policy Committee to consider cuts over the summer. Speaking at a Institute of Chartered Accountants in England and Wales event, he warned that policy will need to remain in restrictive territory to keep price pressures contained, though added that it can still bear down on inflation even if rates are cut. His ... (full story)