UK's Osborne says markets not losing faith in economic policy

LONDON Mon Feb 25, 2013 10:53am EST

Pedestrians walk past the Bank of England in the City of London February 23, 2013. REUTERS/Neil Hall

Pedestrians walk past the Bank of England in the City of London February 23, 2013.

Credit: Reuters/Neil Hall

LONDON (Reuters) - The reaction in financial markets on Monday to the loss of Britain's triple-A credit rating with ratings agency Moody's showed the government still had the confidence of investors, the country's finance minister said.

"The credit rating is an important benchmark for any country but this government's economic policy is tested day in and day out in the market, and it has not been found wanting today," George Osborne told parliament.

Osborne was appearing in parliament to answer a question from the Labour Party opposition about the downgrade announcement by Moody's late on Friday.

(Reporting by David Milliken and Li-mei Hoang, writing by William Schomberg; Editing by Toby Chopra)

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