Bank of England Chief Economist Huw Pill said on Friday that markets should not assume that the BoE's first rate hike will be a 15bps move, according to Reuters. Speaking at an economics conference in Bristol, the BoE's Chief Economist added that "there is an attraction at some point to getting back to a multiple of 0.25 ... but we are not under pressure to do that immediately."

Market Reaction

FX markets have not seen any notable reaction to Pill's latest remarks.