{
  "id": 20059661,
  "title": "BOE likely to raise rates further in 2027",
  "url": "https://urgent.news/2026/11/14/boe-likely-to-raise-rates-further-in-2027",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-14T21:35:33.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448986/boe-likely-to-raise-rates-further-in-2027"
  },
  "original_language": "en",
  "account": "The Bank of England is likely to increase interest rates further in 2027, according to Bank of England Chief Economist Huw Pill. The central bank raised rates to 4% from 3.75% in November, marking the first increase since August 2023. Pill described the rate hike as a \"significant step\" towards improving monetary policy, but acknowledged there is still more to be done. He believes further rate increases will be necessary to combat inflation, which is expected to reach around 5% in mid-2027, significantly above the Bank's target of 2%. Pill cautioned that an end to the US-Israeli conflict with Iran and a decline in energy prices are considered very low probabilities. He expressed concern about the potential magnification of inflationary impact through second-round effects, stating that he believes the central bank delayed acting on inflation. While markets anticipate 90 basis points of tightening by the end of 2027, implying rates could approach 5% in 2027, Pill found these expectations \"not outrageous.\" He also hinted that he would not seek a third term as the bank's chief economist after his current term concludes in September 2027.",
  "summary": "LONDON: The Bank of England will probably need to raise interest rates further in 2027, over and above an increase at the next meeting in December, to combat inflation, Bank of England Chief Economist Huw Pill told the Financial Times in an interview published on Saturday. Britain’s central bank raised interest rates to 4 percent from 3.75 percent in its November meeting, the first rise since…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}