finance

Bank of England's Pill says ground is prepared for rate hike



© Reuters. FILE PHOTO: General view of the Bank of England, in London, Britain October 31, 2021. REUTERS/Tom Nicholson

LONDON (Reuters) – Bank of England chief economist Huw Pill said on Friday he believed the way was clear for the British central bank to raise interest rates for the first time since the coronavirus pandemic hammered the world economy last year.

“In my view, the ground has now been prepared for policy action,” Pill said in the text of a speech to the Confederation of British Industry.

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