Chief BoE economist: we’ll squeeze economy more to tame inflation

Bank of England's Huw Pill warns further work needs to be done' after recent base rate rises

The Bank of England will intensify its squeeze on the economy over the coming months as it seeks to bring down the highest inflation rate in 40 years, its chief economist has warned.

Noting that Threadneedle Street was facing its toughest challenge since being granted independence in 1997, Huw Pill said further work needs to be done" to bring the annual inflation rate back to the government's 2% target.