US tariffs are not having a 'dramatic' impact on UK, BoE chief economist says
ReutersMay 9, 2025 11:56 AM
LONDON, May 9 (Reuters) - U.S. tariffs have not yet had a 'dramatic' effect on Britain's economy and the Bank of England should not neglect longer-term domestic pressure that might push up on inflation, Bank of England Chief Economist Huw Pill said on Friday.
Pill, who voted against Thursday's quarter-point BoE rate cut, said that the BoE's "gradual and careful" approach to future rate cuts did not preclude it from being agile in response to future changes in the economy.
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