Recent statements from Bank of England ("BOE") officials indicate a reluctance to ease their inflation-fighting stance, despite confirming a technical recession late last year. Chief economist, Huw Pill, emphasised the need for several more months of data before being convinced that inflation would fall and remain at the BOE’s 2% target. Monetary Policy Committee members, Megan Greene and Catherine Mann, acknowledged some easing in wage pressures but highlighted the ongoing tightness in the labour market. Governor Andrew Bailey, steering focus toward positive forward-looking data, such as purchasing managers’ indexes and sentiment indicators, remains cautious about easing. Former BOE chief economist, Andy Haldane, once hawkish, now warns of deepening the UK recession if interest rate cuts are not implemented soon...

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