• There is more to do, we need to raise rates to tighten monetary policy
  • At some point, we need to think about broader economic outlook
  • Should not put housing market on a pedestal as an economic driver

And so the story continues. But at least Pill acknowledges the fact that they have to consider economic circumstances at some point, which is very likely in Q1 next year. The UK economy is set to enter a prolonged recession amid the cost-of-living crisis and the energy crunch, which isn't helped by high inflation.