Brown Hints At Another Series Of Rate Cuts

UK's Prime Minister Gordon Brown thinks that there is ample scope for the enforcing another round of rate cuts, if needed to tame the violent bull of economic turbulence.

London (Longdog Finance): Clearing the air on the fact that whether there will be further rate cuts, UK Prime Minister, Gordon Brown has made himself clear that the Bank of England, UK's top ranking financial institution, will not shy away from the idea from resorting to another round of rate cuts if the recent cuts do not achieve the desired results within the decided time span. Interestingly, only recently, the Bank of England axed the interest rates by a shocking 1.5 percent margin, bringing the rates to the lowest level in the last 50 years. Furthermore, it also sent out strong signals, that with inflation on decline, rates could undergo knife treatment again. Mr Brown also called for a joint effort from both the monetary policy framers and fiscal policy framers to contain the nemesis of this temporary financial fiasco. He was quoted as saying, " We have reached the stage where monetary policy must be accompanied by fiscal policy." Brown who will be attending the global G20 summit in Washington scheduled to be held on this weekend is expected to give his valuable inputs relating to the existing global turmoil. The summit will bring together the eminent state entities from across the world, who will be looking out for solutions to curtail the mayhem caused by the liquidity crunch. For additional information on the news that is the subject of this release (or for a sample, copy or demo), contact Webmaster or visit http://www.longdogfinance.co.uk