British Prime Minisiter Gordon Brown says he expects further cuts to interest rates in Britain and around the world in response to falling oil and food prices, the Associated Press reported.
The Bank of England is widely expected to make a half a percentage point cut to 4 percent when it announces the
results of its monthly rate-setting meeting on Thursday.
The U.S. Federal Reserve cut its interest rate to 1 percent last week, saying that downside risks to economic
"We have seen two cuts in interest rates," Brown said, referring to recent Bank of England decisions.
"I can't speculate about what the Bank of England will do because they are independent, but I believe that the trend around the world is to respond to falling oil prices and falling food prices. That is what we seeing at the moment," Brown said.