Downing Street Says » Stock Market

» Monday, August 13, 2007

Stock Market

Asked if the Prime Minister was involved in any talks about the financial markets, and was there a strategy, the PMS replied that John Hutton had responded to this yesterday. As the Prime Minster had said last week, we would not hesitate to act to ensure that the British economy remained stable, and that our prospects for continued growth were good. The view of the International Monetary Fund (IMF) that was expressed on Saturday was that the fundamentals of both the world economy and the British economy were sound.

Asked what actions the Government would take, the PMS replied that any actions would be dependent on the situation. At the moment, the IMF were saying that the British and international economies were sound.

Asked if the Prime Minister would like the Bank of England to follow the Federal Reserve and the Central European Bank in terms of bailing out financial institutions, the PMS replied that the Bank of England’s independence was something that was introduced by this Government, but she was not going to comment any further on its role.

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