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Bank of England must not push interest rates too high, its chief economist says

Bank of England must not push interest rates too high, its chief economist says

Inflation should be back within Bank’s 2% target range by middle of 2024, Huw Pill addsThe Bank of England is alive to the risk of pushing interest rates too high, its chief economist has signalled, adding to expectations that it could be nearing the end of a sustained period of rate rises.Speaking a day after the Bank raised interest rates for a 10th successive time, by 0.5 percentage points to 4%, Huw Pill said the full impact of its rate increases had not yet been felt in the UK economy.

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