Inflation data shouldn’t deter us from rate cuts, says Bank policymaker

Alan Taylor voted for a 0.5-point cut last month and feels recent economic figures are led by one-off factorsBusiness live – latest updatesA member of the Bank of England’s interest rate-setting committee has warned that higher-than-expected inflation and growth figures should not distract policymakers from continuing to cut borrowing costs.Alan Taylor, who was one of two monetary policy committee members to call for a bigger 0.5 percentage point cut last month, said that while he was not going to forecast his future votes, he felt that recent economic data was being led by one-off factors. Continue reading...

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