FX Week

Brown 'Giveaway' Budget Ruffles Few Feathers On Threadneedle Street

MARKET NEWS

LONDON -- The UK media dubbed last week's budget the most generous since 1988 -- but there was little for the Bank of England's Monetary Policy Committee (MPC) to get too concerned about.

The budget, delivered by chancellor of the exchequer Gordon Brown, is likely to have little bearing on the future direction of UK monetary policy, City of London observers told FX Week.

"He [Brown] has been very prudent and has not gone overboard with spending," said Stacey Seltzer, foreign exchange economist

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