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No guarantee first BoE move will be 15 basis point rise - Pill

Fri, 19th Nov 2021 13:29

BRISTOL, England, Nov 19 (Reuters) - Financial markets
should not assume the Bank of England's first step to tighten
policy will be to raise interest rates by 15 basis points to
0.25%, chief economist Huw Pill said on Friday.

"I don't want to give a steer on that ... and that reflects
a genuine uncertainty at a personal level, that I will want to
see how I will assess the situation," he told reporters on the
sidelines of an economics conference in Bristol.

"I don't want to give an impression that there is a piece of
data that will come out, and I will look at that and say: 'Okay,
it's zero, or 50 or 25 or 40 basis points, or whatever,'" he
added.

"There is an attraction at some point to getting back to a
multiple of 0.25 ... but we are not under pressure to do that
immediately."
(Reporting by David Milliken, editing by Andy Bruce)

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