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[Bank Of England Chief Economist Pill: Cautious About Further Rate Cuts]Bank Of England Chief Economist Pill Stated That The Bank Of England Needs To Proceed Cautiously With Rate Cuts, As The Prolonged Process Of Curbing Inflation Is Not Yet Complete. A Week Ago, The Bank Of England Cut Rates, Marking The Third Reduction Since Raising Rates To A 14-Year High In 2023. Pill Indicated That The Overall Outlook Is For Inflation To Fall To The Bank Of England's 2% Target. However, Pill Noted That Underlying Price Pressures Persist. Despite The UK Economy Struggling To Grow, He Urged Caution Regarding Further Rate Cuts. He Stated That The Bank Of England Has More Work To Do In Reducing Inflation, "Which Means We Cannot Overnight Remove All Restrictions, Slash Rates Significantly, And So On."
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