Latest news with #AlanTaylor
Times
13 hours ago
- Business
- Times
Bank of England holds steady as divisions emerge over rates
The Bank of England missed the party on Thursday when it announced that interest rates would hold steady at 4.25 per cent. On a day littered with monetary policy announcements across Europe, it was the only major central bank to sit tight. Switzerland's central bank cut rates by a quarter point. Sweden's did the same, as did Norway's. In the UK, the monetary policy committee was not for turning and stuck to the script: markets expected rates to be held and the Bank of England duly delivered. However, that the committee voted 6-3 in favour of leaving rates unchanged did somewhat upset the apple cart. Analysts projected a 7-2 vote split. Dave Ramsden, a deputy governor, broke from the centre ground on the MPC and voted alongside Swati Dhingra and Alan Taylor — external committee members who have repeatedly voted for frequent and larger cuts — for a 0.25 percentage point reduction.
Bloomberg
a day ago
- Business
- Bloomberg
Bank of England Holds Rates Steady at 4.25% in Dovish 6-3 Vote
The Bank of England held interest rates at 4.25% in a more divided vote than expected as policymakers reacted to signs of softening in the labor market and weak growth against a backdrop of mounting geopolitical tensions. In a decision that left rates on course for a potential quarter-point cut in August, six of the BOE's nine Monetary Policy Committee members voted to leave rates unchanged while three - externals Swati Dhingra and Alan Taylor, as well as Deputy Governor Dave Ramsden — preferred an immediate quarter-point reduction.
Yahoo
31-05-2025
- General
- Yahoo
Alan Taylor withdraws from Trussville City Council race
TRUSSVILLE, Ala. (Trussville Tribune) — City Councilman Alan Taylor has withdrawn from the Trussville City Council race, according to an announcement sent to the Tribune and shared on social media. He was the most experienced candidate in the race with 13 years of service to the city. 'After much prayerful consideration, I have decided not to seek reelection to the Trussville City Council,' Taylor said. 'It has been one of the greatest honors of my life to serve this community over the past 13 years.' Taylor had originally not planned to seek re-election for a fourth term. But with the loss of an experienced mayor in Buddy Choat and longserving City Councilor Perry Cook, many people in the community urged him to seek one more term and he relented. With more time to reflect, he decided it was time to step away. 'This decision did not come easily,' he said. 'However, I believe this is the right time for me to step back and focus on other priorities. Some of my grandchildren live out of state, and I want to spend more time with them. Family is a gift, and I intend to be more present in their lives. In addition, I remain committed to serving at First Baptist Church Trussville as we move forward with our new building project. This is an exciting time for our church, and I want to be fully available to help see it through.' Trussville moves closer to implementing garbage fees, council discusses ways to alleviate costs Taylor reflected on the accomplishments of the city during his tenure which included creating a downtown where empty and dilapidated buildings once stood. Trussville residents had longed for a vibrant downtown area with flourishing business, restaurants and activities. After decades of promises and disappointments, the Trussville Entertainment District became a reality in Taylor's second term on city council and Choat's first term as mayor. 'I am incredibly proud of what we have accomplished together, particularly the tremendous growth of our city and the continued success of our schools,' he said. 'Trussville has become a place where families thrive, and I am deeply grateful to have played a small part in helping shape its future. It has also been a true honor to work alongside Mayor Buddy Choat and my fellow members of the City Council.' While it is challenging to work through differences of opinion to reach a consensus, it was an aspect of serving that Taylor enjoyed. 'We may not have always agreed on every issue, but we have always shared a common goal: to do what is best for the people of Trussville,' he said. Taylor expressed gratitude for for the city workers who he called 'dedicated and hardworking.' He expressed gratitude to the people of Trussville and said, 'Thank you for the opportunity to serve, for your trust, and for your partnership over the years. I will always be an advocate for this city and the wonderful people who call it home.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Leader Live
30-05-2025
- Business
- Leader Live
Bank of England rate-setter Alan Taylor ‘pretty concerned' by economic outlook
Alan Taylor, who was appointed to the Bank's Monetary Policy Committee last year, indicated he will seek to cut interest rates again soon and dismissed recent stronger-than-expected inflation figures. Official figures showed that Consumer Prices Index inflation jumped to 3.5% in April, up from 2.6% in March. The rise in inflation to its highest level since January 2024 comes amid a backdrop of steady reductions in interest rates – which had been kept elevated in a bid to curb high inflation – over the past year. Earlier this month, the Bank of England cut interest rates to 4.25%, their lowest level for around two years, from 4.5%. Mr Taylor, who was among two dissenting rate-setters voting for a sharper cut to 4%, indicated he still hopes for further reductions in interest rates. 'I'm not going to pre-emptively announce my vote, but I think I indicated in my dissent that I thought we needed to be on a lower (monetary) policy path,' he told the Financial Times. 'I'm seeing more risk piling up on the downside scenario because of global developments,' he said, highlighting that President Trump's tariffs were set to drag on global economic growth. On Wednesday, the International Monetary Fund (IMF) said trade tensions linked to tariffs would reduce growth in the UK economy next year. Mr Taylor said he believes the recent uptick in inflation is largely caused by one-off factors, adding that he remained 'pretty concerned' about the growth outlook for the economy. He added that recent developments in UK trade, such as the UK-EU deal secured earlier this month, were welcome, they would not wholly offset disruption from US tariff plans. The rate-setter also indicated that positive growth earlier this year was likely to be linked to firms bringing forward activity ahead of the potential tariffs, with growth likely to slow in the coming months.
Glasgow Times
30-05-2025
- Business
- Glasgow Times
Bank of England rate-setter Alan Taylor ‘pretty concerned' by economic outlook
Alan Taylor, who was appointed to the Bank's Monetary Policy Committee last year, indicated he will seek to cut interest rates again soon and dismissed recent stronger-than-expected inflation figures. Official figures showed that Consumer Prices Index inflation jumped to 3.5% in April, up from 2.6% in March. (PA Graphics) The rise in inflation to its highest level since January 2024 comes amid a backdrop of steady reductions in interest rates – which had been kept elevated in a bid to curb high inflation – over the past year. Earlier this month, the Bank of England cut interest rates to 4.25%, their lowest level for around two years, from 4.5%. Mr Taylor, who was among two dissenting rate-setters voting for a sharper cut to 4%, indicated he still hopes for further reductions in interest rates. 'I'm not going to pre-emptively announce my vote, but I think I indicated in my dissent that I thought we needed to be on a lower (monetary) policy path,' he told the Financial Times. 'I'm seeing more risk piling up on the downside scenario because of global developments,' he said, highlighting that President Trump's tariffs were set to drag on global economic growth. Alan Taylor, external member of the Monetary Policy Committee (House of Commons/UK Parliament/PA) On Wednesday, the International Monetary Fund (IMF) said trade tensions linked to tariffs would reduce growth in the UK economy next year. Mr Taylor said he believes the recent uptick in inflation is largely caused by one-off factors, adding that he remained 'pretty concerned' about the growth outlook for the economy. He added that recent developments in UK trade, such as the UK-EU deal secured earlier this month, were welcome, they would not wholly offset disruption from US tariff plans. The rate-setter also indicated that positive growth earlier this year was likely to be linked to firms bringing forward activity ahead of the potential tariffs, with growth likely to slow in the coming months.
