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Bank of England Chief Economist Pill: Interest rates may need to remain high
Jin10 data reported on May 13 that the Chief Economist of the Bank of England, Pill, expressed concerns on Tuesday that inflation in the UK may be stronger than the Central Bank's expectations, and interest rates may need to remain above the levels anticipated by investors. Pill stated that the inflation rate may stay at a level that is too high for the Bank of England's 2% target, which could mean that in order to ensure we return to our target within a reasonable timeframe, the responses in monetary policy may need to be more aggressive or more prolonged.