Twitter has temporarily closed its offices and cut workers’ access to internal systems as it began laying off staff

The Bank of England is trying to get inflation under control without doing too much damage to the UK economy, its chief economist says.

Huw Pill told CNBC that the Bank’s monetary policy committee is aiming to balance getting inflation down to 2%, without slowing growth too severely.

“What we are seeking to do, we’re always seeking to do, is to find that balance that gets us back to our 2% inflation target without generating unnecessary and costly problems in the real side of the economy.

“Creating that balance, signalling that balance, that was really our key message yesterday.”

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