Mr Pill's comments signal the most recent interest rate rise may be the last for now.
"Somehow in the UK, someone needs to accept that they're worse off and stop trying to maintain their real spending power by bidding up prices, whether higher wages or passing the energy costs through onto customers," Huw Pill had said."If I had the chance again to use different words I would use somewhat different words to describe the challenges we all face," he said.
The"viral response" to the remarks"perhaps hasn't been very helpful", Mr Pill added, to the understanding of inflation and higher interest rates imposed to combat price rises. Mr Pill said he and the Bank of England"do recognise that we live in very difficult and challenging times".
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