US Edition
Bank of England's Taylor says high U.S. tariffs appear to be here to stay
Bank of England MPC member Alan Taylor warned US tariffs will persist, shifting inflation risks toward lower inflation and higher unemployment, impacting UK interest rate decisions.
- On Monday, Alan Taylor, a Bank of England Monetary Policy Committee member, warned US tariffs are here to stay and could cause shockwaves for many years, according to the source.
- On Friday, the US Supreme Court struck down large parts of President Donald Trump's reciprocal tariff programme, while the administration used an executive order enabling 150-day import taxes and the president said he would raise the global tariff rate to 15%.
- Taylor told Deutsche Bank that `Inflation risks are shifting to lower inflation and higher unemployment`, warning the impact will take time as `it's not going to be like an immediate shock that passes through`.
- Taylor said the Bank of England base rate 3.75% could see two or three cuts before settling, amid a five-to-four vote on the MPC.
- With inflation expected to return to 2% in three months, the base rate needs to fall by 1.25 by May, benefiting borrowers but hurting savers, Taylor said.
11 Articles
11 Articles
BOE’s Taylor Says Trump Tariffs Will Affect Inflation for Years
Bank of England rate-setter Alan Taylor said the shock waves from US tariffs on global trade and UK inflation will play over many years as he played down last week’s Supreme Court ruling against President Donald Trump’s signature economic policy.
Bank of England's Taylor says high U.S. tariffs appear to be here to stay
High U.S. import tariffs appear to be here to stay and their full impact represent a meaningful change which is likely to take "many years" to be felt, Bank of England policymaker Alan Taylor said on Monday.
Evening Standard
US tariffs are ‘here to stay’, warns Bank of England rate-setter
Alan Taylor indicated that tariffs could lead to shockwaves across the economy for ‘many years’.
Bank of England could cut interest rates three more times as inflation eases
MPC member suggests two to three more rate cuts may be needed. Inflation is easing but unemployment risks are rising. Tariff pressures could weigh on the UK economy for years.The Bank of England could make up to three more interest rate cuts as inflation moves closer to its 2 per cent target, according to a Monetary Policy Committee member, signalling a possible shift towards a more accommodative stance as economic risks evolve.Alan Taylor, an e…
Tariff shock will have a continuing impact on global markets
Coverage Details
Bias Distribution
- 57% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
