Bank of England's Taylor: If the economy experiences more excess capacity as shown in Scenario A by the Bank of England, we may ultimately have to cut interest rates rapidly, and the bank rate may remain below the neutral level for some time.
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Bank of England's Taylor: If the economy experiences more spare capacity as shown in the Bank of England's Scenario A, we may eventually have to cut interest rates quickly, and the bank rate may even stay below the neutral level for some time.
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