# Global Market: BoE's Huw Pill wary of market bets on four rate hikes over next year — retained record

> Retained news record from news:india-et-markets.

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source: [news](https://highsignal.app/data/news) (news:india-et-markets)  published 2026-10-14 14:20 ingested 2026-10-15 03:00

[original source ↗](https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/global-market-boes-huw-pill-wary-of-market-bets-on-four-rate-hikes-over-next-year/articleshow/134944944.cms)

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Pill, who voted in favour of raising interest rates at the central bank's September meeting, said it was not yet clear whether borrowing costs would need to rise by as much as financial markets anticipate. He made the remarks at an event organised by Citi on the sidelines of the International Monetary Fund's semi-annual meetings in Bangkok, Reuters reported.
Read more: Global Market: China’s yuan firms as investors await US CPI data, assess inflation
Pill said the central bank needed to ensure monetary policy was positioned appropriately to address inflationary pressures, while questioning whether four rate increases would be warranted over the coming 12 months.
The comments highlight divisions within the Bank of England's Monetary Policy Committee over the appropriate response to the energy shock stemming from the Iran war. Pill and two other MPC members voted for a rate increase in September, while the majority, including Governor Andrew Bailey, favoured keeping rates unchanged until there was greater clarity on the conflict's economic impact, Reuters reported.
Bailey reiterated on Tuesday that the energy shock had so far had a limited effect on broader inflationary pressures in the UK. However, he warned that the longer the disruption continued, the greater the risk that its effects would spread more widely through the economy.
Read more: Global Market: Japan's Nikkei rebounds as chip stocks rise, Topix slips on bank losses
The central bank faces a delicate balancing act as it weighs the risk of higher energy prices feeding into inflation against the potential damage to economic growth from tighter monetary policy.
While financial markets have priced in a series of rate increases over the coming year, Pill's remarks suggest policymakers remain divided over the scale and timing of any further tightening, with the outlook likely to depend on how the energy shock evolves and whether it generates more persistent inflationary pressures.
(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
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