Stock market today: S&P 500 hits fresh record close on stronger economic growth
Investing.com -- Bank of England policymaker Alan Taylor said that a soft landing for Britain’s economy faces growing risk as economic activity slows.
"I would say now that soft landing is at risk. In my view, we’ve seen the economy slowing down," Taylor said in an interview with Bloomberg TV on Tuesday.
Despite his concerns about economic slowing, Taylor, who has consistently voted for interest rate cuts, did not advocate for more aggressive monetary policy adjustments.
"I don’t think bigger cuts are necessarily needed or desirable," he noted during the interview.
Taylor also pointed out a practical challenge for the central bank’s rate-setting process, explaining that having only eight Monetary Policy Committee meetings per year creates an "integer problem" for policymakers who might want to implement a faster pace of monetary easing.