9 February 2001, 18:11 Brown sees low UK inflation 'in years to come'
LONDON (AFX) - Chancellor of the Exchequer Gordon Brown said the
UK's low-inflation environment looks set to continue "in the years to
come".
Yesterday's Bank of England rate cut was possible because the UK
had the lowest inflation rate for 30 years and "because, in recent
years, despite the rise in oil prices, we have, with monetary and
fiscal discipline, managed to keep inflation under control", Brown told
a business audience in Nottingham.
The BoE's Monetary Policy Committee cut its repo rate by 25 basis
points to 5.75 pct in its first reduction for 20 months. Annual
inflation dropped to 2.0 pct in December, well below the BoE's target
of 2.5 pct.
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