

By David Milliken and Andy Bruce
LONDON (Reuters) - The Bank of England's monetary policy must focus on its main goal of controlling inflation, rather than trying too hard to stabilise the exchange rate or economic activity, its chief economist Huw Pill said on Tuesday.
A day earlier, BoE Monetary Policy Committee member Catherine Mann suggested that larger interest rate rises in the short term could help counter recent, inflationary sterling weakness, and then be reversed if the economy faltered.
According to her analysis, a more activist approach to raising and lowering interest rates would keep inflation closer to target over the medium term by dampening swings in sterling driven by rapid interest rate rises in the United States.
Pill said the BoE needed to pay attention to what was going on in currency markets and at other central banks, but should be realistic about what it could achieve.
"Monetary policy is a blunt instrument," Pill told the Institute of Chartered Accountants in England and Wales.
"Monetary policy is not a panacea. Monetary policy is not an instrument that allows you to achieve lots and lots of different things at short term: stabilise the exchange rate, fine-tune developments in employment or activity," he added.
While Mann was part of a minority on the MPC last week who voted for a half-point rate rise - something the BoE last implemented in 1995 - Pill voted for a quarter-point move and has previously called for a "steady-handed" approach to rate rises.
The BoE has raised rates five times since December when it became the first major central bank to starting increasing rates after the COVID-19 pandemic, and rates now stand at 1.25%.
More rate rises were likely to be needed in the coming months, Pill said, as inflation headed towards 11%.
"We will do what we need to do to get inflation back to target. And at least in my view, that will require further tightening of monetary policy over the coming months," Pill said.
EUR/USD
1.0597
+0.0043 (+0.41%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
EUR/USD
1.0597
+0.0043 (+0.41%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
GBP/USD
1.2297
+0.0034 (+0.28%)
Summary
↑ BuyMoving Avg:
Buy (9)
Sell (3)
Indicators:
Buy (7)
Sell (3)
USD/JPY
135.21
+0.04 (+0.03%)
Summary
NeutralMoving Avg:
Buy (3)
Sell (9)
Indicators:
Buy (3)
Sell (3)
AUD/USD
0.6938
-0.0010 (-0.14%)
Summary
↑ BuyMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (6)
Sell (1)
USD/CAD
1.2880
-0.0013 (-0.10%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (0)
Sell (7)
EUR/JPY
143.27
+0.62 (+0.43%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
EUR/CHF
1.0141
+0.0032 (+0.32%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (9)
Sell (0)
Gold Futures
1,826.50
-3.80 (-0.21%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (7)
Silver Futures
21.360
+0.201 (+0.95%)
Summary
NeutralMoving Avg:
Buy (5)
Sell (7)
Indicators:
Buy (4)
Sell (2)
Copper Futures
3.7755
+0.0310 (+0.83%)
Summary
NeutralMoving Avg:
Buy (8)
Sell (4)
Indicators:
Buy (4)
Sell (4)
Crude Oil WTI Futures
109.04
+1.42 (+1.32%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (1)
Brent Oil Futures
110.53
+1.43 (+1.31%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (1)
Natural Gas Futures
6.271
-0.010 (-0.16%)
Summary
SellMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (1)
Sell (6)
US Coffee C Futures
221.03
-2.22 (-0.99%)
Summary
↑ BuyMoving Avg:
Buy (7)
Sell (5)
Indicators:
Buy (9)
Sell (1)
Euro Stoxx 50
3,544.35
+11.18 (+0.32%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (7)
Sell (0)
S&P 500
3,918.30
+6.56 (+0.17%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (9)
Sell (0)
DAX
13,193.24
+75.11 (+0.57%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
FTSE 100
7,273.15
+64.34 (+0.89%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (10)
Sell (1)
Hang Seng
22,229.52
+510.46 (+2.35%)
Summary
↑ SellMoving Avg:
Buy (1)
Sell (11)
Indicators:
Buy (0)
Sell (8)
US Small Cap 2000
1,775.10
+12.64 (+0.72%)
Summary
↑ BuyMoving Avg:
Buy (11)
Sell (1)
Indicators:
Buy (8)
Sell (0)
IBEX 35
8,252.66
+8.56 (+0.10%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (8)
Sell (0)
BASF SE NA O.N.
42.800
+0.585 (+1.39%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (9)
Sell (0)
Bayer AG NA
59.51
+1.72 (+2.98%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (6)
Sell (2)
Allianz SE VNA O.N.
181.33
+0.13 (+0.07%)
Summary
↑ BuyMoving Avg:
Buy (12)
Sell (0)
Indicators:
Buy (9)
Sell (0)
Adidas AG
171.92
+1.56 (+0.92%)
Summary
BuyMoving Avg:
Buy (6)
Sell (6)
Indicators:
Buy (8)
Sell (1)
Deutsche Lufthansa AG
5.972
+0.006 (+0.10%)
Summary
↑ SellMoving Avg:
Buy (0)
Sell (12)
Indicators:
Buy (0)
Sell (8)
Siemens AG Class N
103.99
+1.37 (+1.34%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (8)
Sell (0)
Deutsche Bank AG
8.874
-0.045 (-0.50%)
Summary
↑ BuyMoving Avg:
Buy (10)
Sell (2)
Indicators:
Buy (8)
Sell (0)
EUR/USD | 1.0597 | ↑ Buy | |||
GBP/USD | 1.2297 | ↑ Buy | |||
USD/JPY | 135.21 | Neutral | |||
AUD/USD | 0.6938 | ↑ Buy | |||
USD/CAD | 1.2880 | ↑ Sell | |||
EUR/JPY | 143.27 | ↑ Buy | |||
EUR/CHF | 1.0141 | ↑ Buy |
Gold | 1,826.50 | ↑ Sell | |||
Silver | 21.360 | Neutral | |||
Copper | 3.7755 | Neutral | |||
Crude Oil WTI | 109.04 | ↑ Buy | |||
Brent Oil | 110.53 | ↑ Buy | |||
Natural Gas | 6.271 | Sell | |||
US Coffee C | 221.03 | ↑ Buy |
Euro Stoxx 50 | 3,544.35 | ↑ Buy | |||
S&P 500 | 3,918.30 | ↑ Buy | |||
DAX | 13,193.24 | ↑ Buy | |||
FTSE 100 | 7,273.15 | ↑ Buy | |||
Hang Seng | 22,229.52 | ↑ Sell | |||
Small Cap 2000 | 1,775.10 | ↑ Buy | |||
IBEX 35 | 8,252.66 | ↑ Buy |
BASF | 42.800 | ↑ Buy | |||
Bayer | 59.51 | ↑ Buy | |||
Allianz | 181.33 | ↑ Buy | |||
Adidas | 171.92 | Buy | |||
Lufthansa | 5.972 | ↑ Sell | |||
Siemens AG | 103.99 | ↑ Buy | |||
Deutsche Bank AG | 8.874 | ↑ Buy |
Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
---|---|
SJC Eximbank | 6,775![]() ![]() (15 ![]() ![]() |
SJC HCM | 6,790![]() ![]() (5 ![]() ![]() |
SJC Hanoi | 6,790![]() ![]() (5 ![]() ![]() |
SJC Danang | 6,790![]() ![]() (5 ![]() ![]() |
SJC Nhatrang | 6,790![]() ![]() (5 ![]() ![]() |
SJC Cantho | 6,790![]() ![]() (5 ![]() ![]() |
Cập nhật 27-06-2022 21:56:39 | |
Xem lịch sử giá vàng SJC: nhấn đây! |
ↀ Giá vàng thế giới | ||
---|---|---|
$1,825.65 | -5.31 | -0.29% |
ʘ Giá bán lẻ xăng dầu | ||
---|---|---|
Sản phẩm | Vùng 1 | Vùng 2 |
RON 95-V | 33.470 | 34.130 |
RON 95-III | 32.870 | 33.520 |
E5 RON 92-II | 31.300 | 31.920 |
DO 0.05S | 30.010 | 30.610 |
DO 0,001S-V | 30.810 | 31.420 |
Dầu hỏa 2-K | 28.780 | 29.350 |
ↂ Giá dầu thô thế giới | |||
---|---|---|---|
WTI | $107.92 | -2.49 | -2.36% |
Brent | $110.49 | -2.44 | -2.26% |
$ Tỷ giá Vietcombank | ||
---|---|---|
Ngoại tệ | Mua vào | Bán ra |
USD | 23.080,00 | 23.390,00 |
EUR | 23.932,61 | 25.273,13 |
GBP | 27.815,29 | 29.001,83 |
JPY | 167,64 | 177,48 |
KRW | 15,57 | 18,97 |
Cập nhật lúc 18:53:21 27/06/2022 Xem bảng tỷ giá hối đoái |