Bank of England Chief Economist Huw Pill said policymakers are aware of the hardship that soaring interest rates inflict on households and must find a “balance” on fighting inflation without damaging the economy too much.
Speaking to the South Wales Argus on a visit to Newport, the official who sits on the nine-member Monetary Policy Committee said the BOE was “committed to doing everything we can to bring inflation back down to its 2% target.”
Read More: BOE’s Chief Economist Highlights Importance of Balance in Addressing Inflation