Interest rates may need to rise this year, says Bank of England economist
Interest rates may need to increase this year to keep rising prices under control, according to the Bank of England's chief economist. Huw Pill, who
Interest rates may need to increase this year to keep rising prices under control, according to the Bank of England's chief economist. Huw Pill, who is from Cardiff, told the Walescast podcast that the "speed limit at which you can run the economy is a bit lower than it's been in the past".
Pill is one of only nine people in the UK who decide what the Bank of England's interest rate should be - something which affects the cost of mortgages and the rates at which prices rise.
He went to Whitchurch High School in Cardiff, whose alumni include some of Wales' best known sporting heroes. Unlike them, he has had a chance
to see the 400,000 bars of gold bullion stored at the Bank and has confirmed that they're "amazingly shiny."
The BriefWire