Huw Pill said he backed raising Bank of England rates to 4% at the last two meetings because inflation still looks problematic, even with the benchmark held at 3.75% for six months.
At 2.8% in April, CPI remained well above the BOE's 2% target, and Pill warned oil and gas shocks from the US-Israeli war with Iran could push consumer prices higher again.
Pill said businesses are likely to pass higher energy costs on to customers and argued UK inflation has stronger underlying momentum because policy probably was not restrictive enough in recent years.
His dissent has been isolated—he was the lone vote for a hike in April and one of two in June—while Governor Andrew Bailey and most MPC members have preferred to keep rates unchanged.
With rates down from a 5.25% peak in 2024 but cuts paused after the Iran war, economists now mostly expect no change through 2026, though some traders still see a possible hike.