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BoE Chief Economist Pill says interest rates may need to increase this year to keep rising prices under control
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BoE's Huw Pill signals potential rate hikes to 4% due to inflation persistence and low productivity, marking a shift from previous easing expectations amid structural economic constraints.
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"Speed limit at which you can run the economy is a bit lower than it's been in the past". Productivity has slowed down in the UK.
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