BoE’s Pill backs rate hike to 4% to limit inflation catch-up effects

Bank of England (BoE) Chief Economist Huw Pill reiterated his support for raising the Bank Rate to 4.00%, arguing that policymakers cannot wait for uncertainty surrounding the Middle East conflict and energy prices to resolve before acting.
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Dow Jones Industrial Average rallies on a coin toss

The Dow Jones Industrial Average trades near 53,750, up 1.3% and on track for its strongest session since early August, after a Fed governor said he would be inclined to support holding rates at the September 15-16 meeting if the inflation data due over the next two weeks keep behaving.
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