17Nov
Brown in new rate cut hint
Prime minister Gordon Brown has said it is possible that there can
be more interest rate cuts through co-ordinated international
action.
Speaking prior to the G20 summit in the US, Mr Brown stated that
this could be done along with agreements by governments to spend
more and lower taxes.
He stated: "It is now becoming increasingly accepted around the
world that a temporary and affordable fiscal stimulus is
necessary."
Another rate cut could see the cost of mortgages lowered
further.
The Bank of England was involved in a concerted international move
to cut rates by 0.5 per cent last month, a decision that was
followed by this month's 1.5 per cent cut.
Clues about whether there will be more rate reductions soon may be
contained in the minutes of this month's meeting, which are due out
on Wednesday.
This will include details of how each monetary policy committee
member voted.