Source: Sharecast
The BoE cut the cost of borrowing by 25 basis points rates last month to 4.25%.
Andrew Bailey was one of five members of the Monetary Policy Committee to vote in favour of the reduction.
Appearing before the Treasury select committee on Tuesday, Bailey said he had based his decision on the looser job market and the likelihood businesses would now start to make lower pay awards.
The heightened turmoil in global trade policy reaffirmed his vote, he added, and remained an issue going forward.
"I think the path remains downward, but how far and how quickly is now shrouded in a lot more uncertainty frankly," he said.
"The impact of fragmenting the world trade system is negative for world growth and world activity."
Bailey also told MPs that while the MPC had a "a view which is that we will see pay coming down this year", that forecast decline was "crucial" to further rate cuts.
Also appearing before the committee was external member Catherine Mann, who in contrast voted to leave rates on hold in May.
She told MPs she had been concerned by volatility in financial markets - prompted by Donald Trump’s tariff regime - as well as ongoing inflationary risks.
BoE chief economist Huw Pill voted with Mann to leave borrowing rates unchanged. But two other members - Alan Taylor and Swati Dhingra - argued that the cut should in fact be deeper, at 50bps.