‘Rising’ risk UK economy will fall into negative growth, says Bank’s Taylor

There is a “rising” risk that the UK economy could see a “more forceful downturn” due to higher borrowing costs, a policymaker at the Bank of England has warned.

Alan Taylor, a member of the central bank’s nine-strong Monetary Policy Committee, said there was a small but growing chance that the UK will witness negative growth and “recession dynamics start to kick in”.