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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Bank of England must not push interest rates too high, its chief economist says

Bank of England Huw Pill Interest Rates Inflation United Kingdom
A general view of the Bank of England
The Bank of England’s Huw Pill says the full impact of its interest rate increases have not yet been felt in the UK economy. Photograph: Thomas Krych/SOPA Images/Rex/Shutterstock

The Bank of England is alive to the risk of pushing interest rates too high, its chief economist has signalled, adding to expectations that it could be nearing the end of a sustained period of rate rises.

Speaking a day after the Bank raised interest rates for a 10th successive time, by 0.5 percentage points to 4%, Huw Pill said the full impact of its rate increases had not yet been felt in the UK economy.

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