Cheap Chinese Imports to Help Drive Inflation to Target, Says Bank Rate-Setter
Chinese export diversion from US tariffs has increased UK imports by 7.8%, lowering inflation toward the 2% target and supporting potential interest rate cuts, Bank of England says.
9 Articles
9 Articles
BOE's Taylor Urges Rate Cuts as Chinese Goods Weigh On Inflation
(Bloomberg) — Bank of England rate-setter Alan Taylor said there are signs of “substantial trade divergence” that is lowering UK inflation as fresh data confirmed China is shifting exports to the rest of the world in response to US President Donald Trump’s trade war.
Taylor: Trade with China to drive interest rate cuts
Cheap goods flooding into the UK from China will lower inflation and prompt the Bank of England to cut interest rates further, a member of the Monetary Policy Committee has said. Alan Taylor, considered to be the most dovish rate-setter on the MPC, warned that cheap goods flowing in from China would lower inflation over the upcoming year. In a speech at the National University of Singapore, the external member on the MPC said exports no longer…
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