Bank of England Economist Criticizes Policy Delays

Huw Pill, the Chief Economist at the Bank of England, has criticized suggestions that the central bank should adopt a "wait and see" approach to policy adjustments. He argued that delaying action on monetary policy, particularly in response to the ongoing Iran war's potential economic impacts, poses significant risks. Pill emphasized that the ultimate effects on inflation might not be immediately evident, suggesting a need for more decisive and timely policy interventions to manage economic stability effectively.