BoE's Pill: rates will come down, but only with progress on inflation

The Bank of England's (BoE) Chief Economist and Executive Director for Monetary Analysis Huw Pill hit newswires on Monday with a measured tone, noting that while interest rates are overwhelmingly pointed down looking forward, rate cut expectations might be somewhat premature as the BoE looks for firmer evidence that UK inflation will continue to recede in the coming months.