BoE's Pill: 5% UK Rates by 2027 Are Reasonable Market View

Bank of England policymaker David Pill said market pricing for UK base rates near 5% in 2027 is 'not outrageous,' signaling the central bank sees merit in higher terminal-rate expectations. GBP traders should watch for hawkish repricing; the comment supports sterling strength if markets revise rate-cut timelines downward. Eurozone fiscal concerns remain the dominant EUR story.