A member of the Bank of England’s Monetary Policy Committee has said he is concerned about the UK’s economic outlook.
Alan Taylor has suggested that he will look to cut interest rates as he dismissed higher inflation.
Official data shows that in April the Consumer Price Index inflation rose to 3.5% compared to 2.6% in March.
“I’m not going to pre-emptively announce my vote, but I think I indicated in my dissent that I thought we needed to be on a lower (monetary) policy path,” he told the Financial Times.
He added, “I’m seeing more risk piling up on the downside scenario because of global developments,” in response to Donald Trump’s tariffs war.
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