US EditionBank of England Policymaker Plays Down Inflation Risk in Call for Rate Cuts
- Alan Taylor, appointed last year to the Bank of England's Monetary Policy Committee, dismissed recent inflation figures and plans further rate cuts soon.
- Taylor's stance follows the April jump in Consumer Prices Index inflation to 3.5%, the highest since January 2024, despite recent rate reductions.
- Earlier this month, the Bank cut interest rates from 4.5% to 4.25%, with Taylor dissenting for a sharper cut to 4%, citing concerns about growth risks.
- Taylor described the inflation rise as mainly due to one-off factors and said he remains "pretty concerned" about the UK economy facing tariff-driven risks.
- Taylor’s call for lower interest rates and cautious outlook reflects concerns that global developments, including US tariffs, will slow UK growth soon.
11 Articles
11 Articles
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Bank of England ‘pretty concerned’ by economic outlook
A rate-setter at the Bank of England has said he remains "pretty concerned" about the economic outlook as he renewed calls to reduce interest rates further.Alan Taylor, who was appointed to the Bank's Monetary Policy Committee last year, indicated he will seek to cut interest rates again soon and dismissed recent stronger-than-expected inflation figures.Official figures showed that Consumer Prices Index inflation jumped to 3.5% in April, up from…
Bank of England rate-setter Alan Taylor ‘pretty concerned’ by economic outlook - Jersey Evening Post
A rate-setter at the Bank of England has said he remains “pretty concerned” about the economic outlook as he renewed calls to reduce interest rates further. Alan Taylor, who was appointed to the Bank’s Monetary Policy Committee last year, indicated he will seek to cut interest rates again soon and dismissed recent stronger-than-expected inflation figures. Official figures showed that Consumer Prices Index inflation jumped to 3.5% in April, up fr…
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