BoE's Pill: A more cautious withdrawal of monetary policy restriction may be appropriate

Bank of England (BoE) Chief Economist Huw Pill said on Friday, “a more cautious withdrawal of monetary policy restriction may be appropriate.”

Additional quotes

There is a risk that self-sustaining inflationary dynamics embed in expectations.

Must guard against cutting too far or too fast.

Vote to maintain rates is a skip rather than a halt.

Continue to see rate cuts if the economy evolves as forecast.

Need to recognise CPI stubbornness as more pressing.

Shocks could prompt policy changes either way.