BoE’s Taylor: Higher inflation not coming from demand and supply pressures

• Bank of England
  

BoE’s Taylor in the Financial Times, info via Reuters headlines:

• I’m seeing more risk piling up on the downside scenario because of global developments
• A trade war is going to be negative for growth
• Thought we needed to be on a lower monetary policy path
• Higher inflation not coming from demand and supply pressures, for the most part its coming out of one-time tax and administered price changes

That last point, Taylor is playing down inflation pressures, one off factors only. If he is correct it leaves scope for further BoE cuts as inflation pulls back.