According to Jin10, Bank of England Chief Economist Huw Pill said investors should not interpret any future rate hikes by the Bank of England as the start of a new cycle of consecutive increases. Speaking during a panel discussion at the Bangkok Economic Festival on the sidelines of the International Monetary Fund's Bangkok meeting, Pill said markets should not be given the impression that the bank would enter another step-by-step tightening cycle like it did in 2022 and 2023, because this time it faces different shocks. He also repeated his concern that Britain could see a so-called hidden catch-up effect in inflation, where workers seek higher wages to offset lost purchasing power as prices rise, keeping inflationary pressure in place. Pill said restrictive monetary policy may need to be maintained for a longer period to curb that trend.