BoE's Pill: Bank rate to stay on hold or even fall if growth stalls next year

FXStreet · Eren Sengezer · 2026-11-06 12:55 UTC

Bank of England (BoE) Chief Economist Huw Pill said on Friday that "nothing is baked in" for interest rates next year, adding that he expects the outlook to become more uncertain from spring, per Reuters.

Bank of England (BoE) Chief Economist Huw Pill said on Friday that "nothing is baked in" for interest rates next year, adding that he expects the outlook to become more uncertain from spring, per Reuters.Key takeaways"There is no preset upward path for interest rates from spring and beyond.""Possible that bank rate would stay on hold or even fall if we saw stalling of growth next year.""Key determinant will be margin squeeze on companies and how companies react."Market reactionGBP/USD remains under bearish pressure following these comments and was last seen trading at 1.3390, losing 0.45% on a daily basis.

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