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BoE Chief Economist Pill says MPC is not edging towards a hike
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The BoE held rates at 3.75% despite internal calls for a hike. Chief Economist Pill downplayed an imminent pivot, as officials monitor energy-driven second-round inflation risks amid geopolitical tensions.
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Says Deputy Governor Lombardelli clarified the decision to hold rates unchanged this time was not a difficult one. See potential for more slow-moving, insidious second-round effects. Risks to headline inflation are to the upside.
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