According to Jin Ten Data, the Chief Economist of the Bank of England, Pill, expressed his concern that UK interest rates are falling too quickly. Earlier this month, he explained the request to maintain borrowing costs unchanged.
Pill stated on Tuesday that he does not support completely halting interest rate cuts but calls for a more 'cautious' approach. He warned that the cooling of potential wage growth has already 'slowed down,' and inflation in the service sector is 'strong.'
Pill opposed further easing at the May meeting, voting to keep interest rates unchanged. He believes the pace of unwinding monetary policy restrictions is too fast and advocates for 'skipping' in the central bank's quarterly rate-cutting pattern to slow down the exit pace.