Three more interest rate cuts could come, says BoE official

THE Bank of England could make three further interest rate cuts in the coming year as inflation drops towards the 2% target, a Monetary Policy Committee member suggested.

- BY MAURICIO ALENCAR

Alan Taylor hints at more rate cuts

Alan Taylor, an external member who has consistently voted for larger rate cuts, said higher unemployment and lower wage growth could drive the Bank to act.

He said the jobs market was “converging on a pessimistic outlook” while weak productivity growth could flatten the UK economy, with lower interest rates giving it a boost.