Bank of England Chief Economist Huw Pill on Wednesday expressed scepticism about market expectations for four quarter-point interest rate increases over the next year, signalling uncertainty over the pace of monetary tightening as policymakers assess the inflationary impact of the Iran war, Reuters reported.
Pill, who voted in favour of raising interest rates at the central bank's September meeting, said it was not yet clear whether borrowing costs would need to rise by as much as financial markets anticipate. He made the remarks at an event organised by Citi on the sidelines of the International Monetary Fund's semi-annual meetings in Bangkok, Reuters reported.
