# BoE's Pill: Time for cutting bank rate remains some way off — Octa

> BoE Chief Economist Huw Pill said that a bank rate cut has come somewhat closer but that the time for cutting remains some way off. GBP/USD edged higher after his remarks and was trading at 1.2387, up 0.3% on the day.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30993-boe-s-pill-time-for-cutting-bank-rate-remains-some-way-off-octa
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

A slower path to BoE cuts supports sterling against the dollar. The effect on feed commodities is small.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- octabroker.com: https://www.octabroker.com/markets/news/view/1097742/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.