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UK's Brown-Sensible to back rate cuts with fiscal action

Mon Nov 17, 2008 10:53am EST

LONDON, Nov 17 (Reuters) - Supporting interest rate cuts with fiscal action is sensible during the current downturn, British Prime Minister Gordon Brown said on Monday.

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"The risk in this new environment is not stagflation but rather the impact on the economy of close to zero inflation at the time of a downturn. So it makes sense for governments to support interest rate cuts with fiscal action," Brown said, briefing parliament on Saturday's Washington meeting of world leaders on the financial crisis. (Reporting by Adrian Croft; Editing by)

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