BoE Chief Economist Says Strong UK Growth Supports Higher Rates for Longer

Bank of England Chief Economist Huw Pill said stronger-than-expected UK growth reinforces the case for borrowing costs to stay higher for longer as the central bank tries to bring inflation back to target. His comments come after the Monetary Policy Committee held rates steady in a 6-3 vote at its July meeting, with Pill among the minority favoring a rate increase. The remarks add to signs of internal debate at the BoE over whether the economy is strong enough to withstand tighter policy, a question that matters for households, businesses and mortgage borrowers.