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Evening Standard
Evening Standard
World
David Bond

‘Reason to be optimistic:’ Bank chief offers hope on interest rate hikes

Huw Pill Mohamed ElErian Inflation Interest Rates Bank of England

(Picture: PA Wire)

Interest rates are no longer expected to rise as high as feared this year, a Bank of England chief said on Friday.

Speaking a day after the Bank’s Monetary Policy Committee hiked interest rates to a 14 year high of 4 per cent, the BOE’s Chief Economist Huw Pill said the “turmoil” of Liz Truss’s mini Budget, which sent rates soaring last autumn, had passed.

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