News · 10 July 2026
BoE economist Pill hints rate hike possible this year.
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Huw Pill, the Bank of England's chief economist, believes interest rates might need to go up this year to help keep rising prices under control. He told the Walescast podcast that the economy's "speed limit" is lower than it used to be, with inflation currently at 2.8%, above the 2% target. Pill is one of nine people on the Monetary Policy Committee who decide the interest rate, affecting mortgages and savings.
Reported by BBC · How we write briefs