[Chief Economist of the Bank of England: Further interest rate hikes may be needed next year, and the possibility of an end to the Iran conflict is extremely low] November 14th, Huw Pill, chief economist of the Bank of England, said in an interview published on Saturday that in order to curb inflation, in addition to raising interest rates at the next meeting in December, the Bank of England may need to further raise interest rates in 2027. "My view is that we will see evidence of further interest rate hikes," Peel said. "We will take the necessary steps to bring inflation back to 2% over time." Peel sees an end to the Iran conflict and lower energy prices as "extremely unlikely", suggesting he will vote for another 25 basis point rate hike next month. The market currently expects the Bank of England to raise interest rates by 90 basis points by the end of 2027, which means that interest rates in 2027 may be close to 5%. Peel said those expectations were "not outrageous."