Bank of England member Alan Taylor urges quicker interest rate cuts to avert a UK recession.

Alan Taylor, a member of the Bank of England’s Monetary Policy Committee, has recommended lowering interest rates more quickly to prevent a possible UK recession. Taylor argues that the economy faces risks of slowed growth and faster-than-expected inflation declines, suggesting a need for significant rate cuts, possibly up to 1.5 percentage points. While recent data shows UK inflation slowed to 2.5% in December, Taylor believes preemptive rate cuts could ensure economic stability.

2 months ago
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