Investing.com -- Bank of England policymaker, Alan Taylor, revealed on Monday that he voted for a half-point rate cut last week. This decision was contrary to the majority stance of the Monetary Policy Committee (MPC). Taylor’s vote was driven by the current "quite perilous" trade situation and a weakening domestic economy.

Taylor expressed concern over the continued erosion of confidence, as indicated by low readings on PMI and REC. He noted a trend of precautionary saving and investment postponement by households and businesses. His comments were made during a conference hosted by King’s College London.

His view of the economy is more pessimistic than that of his MPC colleagues Clare Lombardelli and Megan Greene. Both Lombardelli and Greene, who also spoke at the conference, considered the impact of President Trump’s tariffs on Britain to be fairly modest.

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