BoE's Pill Doubts Markets' Pricing of Four Rate Hikes

3-line summary

• Bank of England rate-setter Huw Pill said he is sceptical that four 25-basis-point rate hikes, as currently priced in by markets, will be needed, according to Investing.com. Pill, who has voted for hikes at the last four meetings, said recent economic data has been improving and will guide future decisions.
• Pill said core inflation likely never reached the 2% target even before the energy shock, and argued that hiking earlier would have shown the BoE was not simply 'holding and hoping.' The FTSE 100 was up 0.06%, Germany's DAX up 0.26%, and France's CAC 40 up 0.45% as of 07:26 GMT, with the pound up 0.10% at $1.3263.

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