BoE's Pill warns big rate rises risk roiling markets
Reuters
Published Jul 06, 2022 10:34
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.
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Written By: Reuters
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