Bank of England’s Sole Dissenter Makes Case for Quick Rate Hikes

The Bank of England should be raising interest rates with greater urgency after entering the Iran war with slowing progress in its battle to bring down inflation, according to its chief economist.

Huw Pill — the only voice on the Monetary Policy Committee to back higher rates on Thursday — said he was concerned about disinflation “stalling” even before energy prices were pushed up by the conflict.