BoE's Pill says in the past the BoE has perhaps put too much weight on inflation being at target as opposed to future risks
Importance
Level 1
- Bearing down on inflationary pressures remains necessary, while there is still work to do. Underlying inflation seems to be in a 2.5-3.0% range.
- Need to see more progress on the indicators of underlying inflation. On balance, risks are still to the upside on achieving the inflation target, means there is caution in a further reduction in policy rates.
- Share a lot of the same views as Greene.
- Personal focus has been on the underlying components of inflation.
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