BoE chief economist signals further rate hikes into early 2027

Huw Pill, the Bank of England's chief economist, stated that interest rates will likely need to rise again next month and in early 2027 to combat inflation, following a hike to 4% in November. This signals a sharp increase in mortgage costs for 2.3 million homeowners refinancing next year. The statement confirms a hawkish tilt, but the exact path and magnitude of hikes remain uncertain.

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