BoE Taylor Sees Lower Inflation Persistence Risk
Bank of England policymaker Alan Taylor stated that current economic conditions make second-round inflation effects from rising energy prices less likely than during the 2022 energy shock. While rate hikes remain a possibility under certain scenarios, Taylor believes existing financial restrictiveness is sufficient to manage price pressures for now.
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Bank of England policymaker Alan Taylor said on Thursday that inflation risks from the Iran conflict remain lower than the 2022 energy shock. Taylor noted that current economic conditions make second-round price effects less likely than during the invasion of Ukraine by Russia. Financial markets are pricing in two quarter-point interest rate increases by the end of the year.
