Remarks by BOE chief economist, Huw Pill

  • Says that himself personally alongside the BOE MPC are committed to achieve 2% inflation but there is no quick fix

At this point, I'm not even sure which side of the needle is he arguing his point from. But I reckon it is more of the case that he is referring to the long-term view, whereby the latest episode is still regarded as transitory and more lasting factors such as wage pressures aren't showing evidence of contributing to a sustainable return of 2% inflation.