Bank of England Chief Economist: Future Rate Hikes Do Not Signal a Return to Consecutive Tightening Cycle

Bank of England chief economist Huw Pill stated on October 15 that even if the Bank decides to raise interest rates, it does not mean a repeat of the consecutive tightening cycle seen from 2022 to 2023. He noted that current inflationary pressures differ from the previous round and warned against over-inference regarding future rate paths. While traders believe a 25-basis-point hike next week is almost certain, Pill expressed skepticism about market expectations for a cumulative 100-basis-point increase over the next 12 months. (Sina Finance)