According to Jinshi Data, Bank of England member Taylor downplayed the stronger-than-expected inflation and growth data in an interview, calling for a rate cut. He believes the surge in inflation is driven by one-off factors.
Taylor pointed out that the uncertainty brought by Trump's trade war is dragging down economic growth. Although there has been progress in the UK-EU agreement, the impact is limited. He supported a 50 basis point rate cut this month.
Taylor stated that the developments in the global situation have increased the downside risks, and the impact of Trump's tariffs on imported products will continue, leading to trade diversion and a slowdown in economic growth.