Bank of England’s chief economist dampens hopes of summer interest rates cut

Huw Pill warns inflation could rebound as UK business survey signals economy strengthened over last month

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The prospects of a summer cut in UK interest rates receded on Tuesday after the Bank of England’s chief economist cautioned against cutting too soon and a key survey signalled the economy strengthened over the last month.

The Bank’s chief economist, Huw Pill, said concerns remained that inflation, which is expected to fall below its 2% target within a few months, could rebound after a recovery in economic growth.