Latest news with #AlanTaylor
Yahoo
a day ago
- 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 (Trussville Tribune) — City Councilman Alan Taylor has withdrawn from the Trussville City Council race, according to an announcement sent to the Tribune and shared on social media.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
2 days ago
- 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
2 days ago
- 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.
Yahoo
3 days ago
- Business
- Yahoo
Inflation data shouldn't deter us from rate cuts, says Bank policymaker
A member of the Bank of England's interest rate-setting committee has warned that higher-than-expected inflation and growth figures should not distract policymakers from continuing to cut borrowing costs. Alan Taylor, who was one of two monetary policy committee members to call for a bigger 0.5 percentage point cut last month, said that while he was not going to forecast his future votes, he felt that recent economic data was being led by one-off factors. '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,' Taylor told the Financial Times in an interview. Related: Bank of England governor urges deeper ties with EU to 'minimise' Brexit impact The latest figures show UK inflation jumped by more than expected in April, to 3.5% from 2.6% in March, almost a percentage point higher than the Bank of England's 2% target. However, much of that rise reflected a jump in water bills, energy costs and council tax. '[Higher inflation] is not coming from demand and supply pressures; for the most part, it's coming out of one-time tax and administered price changes,' Taylor said, adding that energy prices had otherwise been trending downwards. '[The BoE] forecast path is saying there is going to be an inflation hump and then it's going to go away,' he said While the UK economy grew 0.7% in the first quarter, marking the fastest rise in a year, economists have said it was largely the result of stronger levels of business investment as companies rushed to beat Donald Trump's tariffs. Taylor said he was still 'pretty concerned' about the outlook. Taylor was among two members of the nine-strong MPC who voted for a bigger 0.5% percentage point cut to interest rates earlier this month, which were ultimately cut by a quarter of a percentage point to 4.25%. Two members voted to hold at 4.5%. His concerns about the outlook are due to 'more risk piling up on the downside scenario because of global developments', he said. Taylor said that includes ripple effects from the US president's trade war. 'A trade war is going to be negative for growth,' Taylor said, adding that the tariff regime 'is going to be a drag on growth for both the frictional reason and the uncertainty reason'. While the Labour government has hailed three trade pacts struck with the EU, India and US in recent weeks, Taylor said the UK was 'not getting back to where we were before'. He said: 'These other things are perhaps welcome in their effects in certain sectors, but I think we need to keep our eye on the big shocks. We got a massive change in trade policy; we have a lot of uncertainty: I would focus on that as the big story.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Guardian
3 days ago
- Business
- The Guardian
Inflation data shouldn't deter us from rate cuts, says Bank policymaker
A member of the Bank of England's interest rate-setting committee has warned that higher-than-expected inflation and growth figures should not distract policymakers from continuing to cut borrowing costs. Alan Taylor, who was one of two monetary policy committee members to call for a bigger 0.5 percentage point cut last month, said that while he was not going to forecast his future votes, he felt that recent economic data was being led by one-off factors. '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,' Taylor told the Financial Times in an interview, The latest figures show UK inflation jumped by more than expected in April, to 3.5% from 2.6% in March, almost a percentage point higher than the Bank of England's 2% target. However, much of that rise reflected a jump in water bills, energy costs and council tax. '[Higher inflation] is not coming from demand and supply pressures; for the most part, it's coming out of one-time tax and administered price changes,' Taylor said, adding that energy prices had otherwise been trending downwards. '[The BoE] forecast path is saying there is going to be an inflation hump and then it's going to go away,' he said While the UK economy grew 0.7% in the first quarter, marking the fastest rise in a year, economists have said it was largely the result of stronger levels of business investment as companies rushed to beat Donald Trump's tariffs. Taylor said he was still 'pretty concerned' about the outlook. Taylor was among two members of the nine-strong MPC who voted for a bigger 0.5% percentage point cut to interest rates earlier this month, which were ultimately cut by a quarter of a percentage point to 4.25%. Two members voted to hold at 4.5%. His concerns about the outlook are due to 'more risk piling up on the downside scenario because of global developments', he said. Taylor said that includes ripple effects from the US president's trade war. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion 'A trade war is going to be negative for growth,' Taylor said, adding that the tariff regime 'is going to be a drag on growth for both the frictional reason and the uncertainty reason'. While the Labour government has hailed three trade pacts struck with the EU, India and US in recent weeks, Taylor said the UK was 'not getting back to where we were before'. He said: 'These other things are perhaps welcome in their effects in certain sectors, but I think we need to keep our eye on the big shocks. We got a massive change in trade policy; we have a lot of uncertainty: I would focus on that as the big story.'
