BoE's Alan Taylor sees January 2027 wage survey as key to rate view

  • Alan Taylor identified the BoE's 2027 wage survey as important for assessing potential rate increases.
  • January's survey follows a previous reading of somewhat over 3%.
  • Taylor said he saw no compelling evidence yet for raising rates after his lecture.

Bank of England (BoE), the U.K. central bank, policymaker Alan Taylor said the institution's annual survey of firms' 2027 wage expectations, due in January, will be central to his assessment of whether interest rates should rise. Speaking after a lecture in London on Tuesday, Sept. 29, Taylor said he did not yet see compelling evidence for an increase. Many economists and investors expect the BoE to raise rates after its next meeting in November. Taylor also said he would consider preliminary survey results available ahead of the BoE's December meeting. A reading at or below the previous survey's level of somewhat over 3% would reassure him that inflation pressures were contained.

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