Bank of England Chief Economist Huw Pill said the slowdown in the UK economy together with the tight labor market conditions will put a lid on domestic inflationary pressures and weaken the risk of persistent inflation.
"Should economic slack emerge and unemployment rise as the latest MPC forecasts imply, that will weigh against domestic inflationary pressure and ease the threat of inflation persistence," the economist said in a speech at an event in New York, late Monday.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.