BoE Chief Economist Huw Pill said at a conference that recent market turmoil in the UK led to some “de-anchoring” of inflation expectations. “What we’re most concerned about is whether this self-sustaining inflation will persist,” he said.
He added that officials at BoE have “more to digest” about how the government’s plan will impact the economy. They will look carefully at the budget due November 17.
Regarding interest rates, “we have done some, and I think there is still more to do,” Pill said. “At some point you have to think what level of rate is appropriate.”
