BoE’s Pill warns big rate rises risk roiling markets
By:Reuters
Published: Jul 6, 2022, 09:36 UTC•1min read
LONDON (Reuters) – Bank of England Chief Economist Huw Pill on Wednesday warned against raising interest rates in big, bold steps and reiterated his preference for a more “steady-handed” approach.
Most Popular
EUR/USD
$1.02119
+0.17%
Bitcoin
$23,066.3
-3.62%
S&P 500
$4,121.26
-0.45%
Natural Gas
$7.9105
+2.60%
LONDON (Reuters) – Bank of England Chief Economist Huw Pill on Wednesday warned against raising interest rates in big, bold steps and reiterated his preference for a more “steady-handed” approach.
“One-off bold moves can … be disturbing in terms of their impact on financial markets,” Pill told an audience following a speech to the Qatar Centre for Global Banking and Finance 2022 Conference at Kings College London.
He said the BoE should avoid gaining a reputation for “jerking around Bank Rate” in response to short-term economic news, as investors would view this as noise that would disrupt the transmission of monetary policy.
(Reporting by Andy Bruce; editing by David Milliken)
Advertisement
Don't miss a thing! Sign up for a daily update delivered to your inbox
Loading
Loading
Loading