BoE's Taylor (Dove) says they are going to have to keep an eye on how the situation evolves in the Middle East; too soon to tell impact of shocks

• For the UK, US tariffs will be a source of disinflation.

This comment from BoE's Taylor indicates a cautious stance, recognizing the impact of geopolitical events in the Middle East on policy considerations. The mention of US tariffs contributing to disinflation suggests a dovish outlook on inflationary pressures, which may influence the BoE's approach to interest rates. Overall, it reflects uncertainty and could lead to more stable GBP trading if the market perceives a prolonged dovish bias in the BoE's stance.