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Bank of England Chief Economist Huw Pill emphasized the need for a cautious approach towards cutting Interest rates, advocating for a gradual reduction to prevent risks associated with moving too quickly. In a speech at the Institute Chartered Accounts in England and Wales, Pill stated that while further rate cuts are possible given the economic and Inflation outlook, it is crucial to avoid swift and excessive cuts. This strategic approach underscores the importance of a measured withdrawal of monetary policy restrictions.

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