Boe's Pill: Not ready to say world has shifted to persistently higher inflation

By Michael S. Derby

NEW YORK - Bank of England Chief Economist Huw Pill said on Monday that it's too soon to say that the current economic environment has shifted to one where inflation is persistently higher than it has been in recent decades.

It is "going too far" to argue inflation has become unanchored and central banks have lost the ability to bring price pressures back down, Pill said in comments before a gathering held by the Money Marketeers of New York.