BoE Chief Economist Pill Says Further Rate Hikes Needed to Return Inflation to 2%

Pill's explicit call for further hikes, even as higher borrowing costs weigh on the economy, underscores how firmly the Bank of England is anchored to its inflation target despite the growth trade-off. For crypto and RWA markets, the signal matters less for digital assets directly than for the broader risk backdrop: a still-tightening BoE keeps sterling funding costs elevated and reinforces the higher-for-longer narrative across developed-market rates. Whether Pill's stance is echoed by other MPC members, and whether the growth toll starts to shift the committee's tone, is the open question worth watching.