Bank of England ready to take ‘forceful’ action on inflation, says chief economist

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

The Bank of England will raise interest rates more aggressively to tackle soaring living costs if there are signs of inflation becoming persistently higher for longer than expected, its chief economist has warned.

Huw Pill said Threadneedle Street was on high alert to take forceful" action if there were signs of a wage-price spiral taking hold or if companies continued to raise their prices.