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BoE's Huw Pill Urges Urgent Action on Inflation Control

4/18/2026

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Summary

Story summary

Bank of England Chief Economist Huw Pill said the bank must prioritize inflation control to hit the 2% target.
Pill criticized the 'wait and see' approach as potentially misrepresenting the urgency of addressing inflation.
He noted the ongoing conflict in Iran and rising energy prices create challenges that monetary policy alone cannot resolve.
BoE Governor Andrew Bailey has previously highlighted balancing inflation with growth and job risks.

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Story summary

Bank of England Chief Economist Huw Pill said the bank must prioritize inflation control to hit the 2% target.
Pill criticized the 'wait and see' approach as potentially misrepresenting the urgency of addressing inflation.
He noted the ongoing conflict in Iran and rising energy prices create challenges that monetary policy alone cannot resolve.
BoE Governor Andrew Bailey has previously highlighted balancing inflation with growth and job risks.