BoE's Alan Taylor Rules Out Rate Hikes

BoE policymaker Alan Taylor said further rate hikes are unlikely, citing the current 3.75% policy rate as sufficiently restrictive.
He highlighted weak UK economic signals—contracting private sector, soft inflation, and a weakening jobs market—raising recession risks.
Taylor noted rates are ~100 basis points above the 3% neutral rate and said only a worst‑case Iran scenario would justify hikes.
He downplayed a worst‑case projection of 6.2% inflation by 2027, calling it far from certain.