UK MPC member says further rate cuts not ruled out

UK - UK interest rates may still fall again if the world economy takes a turn for the worse, while the first increase in borrowing costs could be some way off, a member of Britain's monetary policy team told the Times.

In an interview with the newspaper, Charlie Bean, Bank of England chief economist, indicated that City fears about imminent increases in base rates could be misplaced.

His comments expressed to the Times were similar to views expressed yesterday by the governor of the Bank of Eng