Bank of England economist warns against inaction over inflation

Bank of England Chief Economist Huw Pill said this week that uncertainty about the economic implications of the ongoing conflict ​in the Middle East should not be used as an excuse for inaction ‌over inflation threats.

Pill – who has previously said the BoE cut interest rates too fast over the past year – told a central banking conference in Skopje that he was ready to act “if necessary to contain ​the lasting components of any new inflationary pressures”.

“I see the upside...