A post by @FirstSquawk on X.
BOE'S PILL: NOT GOING TO REPEAT 2022 RATE-HIKING CYCLE; NOT GOING TO REPEAT 2022 RATE-HIKING CYCLE; QUESTON OVER WHETHER RESILIENCE WILL BE SUSTAINED; PATH OF RATES FROM SPRING WILL BE DATA-DRIVEN; WILL SEE EVIDENCE ON 2ND-ROUND EFFECTS…
@FirstSquawk on X
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Bank of England Monetary Policy Committee member Huw Pill said the central bank will not repeat its 2022 rate-hiking cycle, signaling a slower approach to tightening ahead. Pill flagged uncertainty over whether the economy's recent resilience can be sustained and said the path of rates from spring will be data-driven. He added that evidence on second-round inflation effects should emerge from spring. The remarks matter because they push back on expectations of a repeat of the aggressive 2022 tightening sequence and frame the BOE's next moves around incoming data.
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Bank of England, Pill