Bank of England chief economist Pill said the biggest threat to the bank's independence is government pressure to have it finance large fiscal deficits. He said slower growth and a string of supply shocks have widened deficits and raised public debt; financing those deficits via the central bank could prompt markets to question its independence.

2026-09-04

Bank of England chief economist Pill said the biggest threat to the bank's independence is government pressure to have it finance large fiscal deficits. He said slower growth and a string of supply shocks have widened deficits and raised public debt; financing those deficits via the central bank could prompt markets to question its independence.