Evolving UK monetary policy in an evolving world − speech by Huw Pill
Central bank: boe | Type: speech | Date: 2025-10-17

Evolving UK monetary policy in an evolving world − speech by Huw Pill
Speech at the Institute of Chartered Accountants of England and Wales annual conference Thriving in Transformation, London
Published on
17 October 2025
In this speech, Huw addresses three interrelated issues.
First, he reviews the immediate economic outlook and its implications for monetary policy. He concludes that, while further cuts in Bank Rate over the coming year would follow from an evolution of the economic and inflation outlook broadly in line with what the MPC anticipates, it will continue to be important to guard against the risk of cutting rates either too far or too fast. On this basis, a more cautious pace of withdrawing monetary policy restriction than seen over the past year may be appropriate from here forward in order to ensure continuation of the disinflation process back towards the 2% target.
And third, he outlines some more concrete ideas about how that framework will evolve in the future.
Evolving UK monetary policy in an evolving world
Chief Economist and Executive Director, Monetary Analysis
Speech // Randy Kroszner
11 December 2025
Promoting innovation while guarding against...
Promoting innovation while guarding against financial stability risks − speech by Randy Kroszner
Speech // Laura Wallis
05 December 2025
The evolving landscape of UK financial mutuals:...
The evolving landscape of UK financial mutuals: every challenge is an opportunity − speech by Laura Wallis
Speech // Nathanael Benjamin
03 December 2025
Removing Frictions − speech by Nathanaël...
Removing Frictions − speech by Nathanaël Benjamin
Speech // Phil Evans
03 December 2025
Basel 3.1: Market Risk − speech by Phil Evans
Basel 3.1: Market Risk − speech by Phil Evans