Bank of England chief economist Huw Pill signals further rate rises into 2027

Created Nov 14, 2026 • AI-generated summary

Bank of England chief economist Huw Pill, in an interview with the Financial Times reported 14 November 2026, signalled that UK interest rates are likely to rise in December 2026 and potentially into early 2027, calling the November increase from 3.75% to 4% a "significant step" but "we have further to go", with the MPC's next decision on 17 December. He described market expectations of rates near 5% by 2027 as "not outrageous"; inflation is projected to hit 5% in spring 2027 driven by Iran-conflict energy prices, and around 2.3 million homeowners face higher refinancing costs next year. Membership limited to coverage of Pill's FT interview signalling further rate rises.