The Bank of England (BOE) is expected to continue raising interest rates into 2027, according to Chief Economist Huw Pill. In an interview with the Financial Times published Saturday, Pill indicated that further hikes beyond the upcoming December meeting will likely be necessary to tackle inflation.
The BOE recently increased rates to 4 percent from 3.75 percent in its November meeting, marking the first rise since August 2023. Pill described this move as a "significant step" toward aligning monetary policy with economic needs but emphasized that more adjustments are ahead.
"We have further to go," Pill told the Financial Times. "My view would be we will see evidence that motivates further rises." His remarks suggest that the central bank remains committed to tightening policy to curb inflationary pressures.