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# BoE's Pill says a future rate rise should not signal a long series of increases
- URL: https://www.theglobalbanker.com/boes-pill-says-a-future-rate-rise-should-not-signal-a-long-series-of-increases/
- Published: 2026-10-16T13:00:27.000Z
- Updated: 2026-10-16T13:00:27.000Z
- Description: The BoE's Huw Pill said a future rate rise should not be seen as the start of a long series of increases, while markets see a quarter-point rise after next week's meeting as near certain.
- Author: TGB Editorial Team
- Tags: Central Banks, Europe, #newsroom, #needs-photo

Bank of England Chief Economist Huw Pill said on Thursday that investors should not interpret a future rate rise by the central bank as the start of a long series of increases.

The day before, Pill, who has voted for higher rates since April, pushed back against financial market bets on four rate rises over the next 12 months.

Pill repeated his concern that Britain is vulnerable to what he called "insidious" catch-up dynamics in inflation, as workers seek wage rises to compensate them for price rises.

He also said higher bond yields in advanced economies probably reflected, at least in part, a rise in the real neutral rate of interest needed to stabilise inflation. He described this as another factor pointing to the need for higher rates.

The BoE has kept rates on hold since the outbreak of the US-Iran war in February, unlike the US Federal Reserve and the European Central Bank. Markets see a quarter-point increase after next week's meeting as a near certainty.

*Related: [Bank of England’s Pill questioned pricing for four rate rises](https://www.theglobalbanker.com/bank-of-englands-pill-questioned-pricing-for-four-rate-rises/)*