During an early morning talk on Thursday, the Chief Economist of the Bank of England, Hugh Pill, stated that he expects the Monetary Policy Committee of the central bank to be able to further reduce interest rates in upcoming meetings.
However, Pill emphasized that the process of lowering inflation is not yet complete, which he indicated is leading the Bank of England to be cautious about further interest rate cuts.
At the same time, Pill warned that the tariffs imposed by the United States could have significant impacts on the UK economy, suggesting that it might lead to an economic slowdown, as well as posing risks to inflation.
