Alan Taylor, the most recently appointed member of the Bank’s monetary policy committee (MPC) said the UK is ‘in the last half mile on inflation’.

The Bank of England (BoE) policymaker Alan Taylor said on Wednesday that the BoE should move quickly to cut interest rates “pre-emptively” as the UK is “in the last half mile on inflation.” Key quotes "Right now, I think it makes sense to cut rates pre-emptively to take out a little insurance against this change in the balance of risks, given that our policy rate is still far above neutral and would still remain very restrictive.” "We are in the last half mile on inflation, but with the economy weakening,