The recent fall in inflation towards the 2% target is not necessarily enough reason for the Bank of England to start cutting interest rates, and it would be better to cut too late than too early, the Bank of England’s chief economist Huw Pill said today.
Speaking at the University of Chicago, the economist - one of nine members of the Monetary Policy Committee that sets interest rates - said that little had changed in his view of the inflation and interest rate situation since late March.
