NEW YORK, Nov 14 (Reuters) - Cutting interest rates is a vital part of the response to the global financial crisis and economic downturn and there is room for borrowing costs in Britain to fall further, Prime Minister Gordon Brown said on Friday.
"There is scope there for, as the Governor of the Bank of England has said, a further reduction to the interest rates and that's an essential element of what we are doing," Brown told the Council on Foreign Relations.
Brown also reiterated his call for an urgent, coordinated but temporary fiscal and monetary policy response by global policymakers to the economic downturn.
(Reporting by Matt Falloon; Editing by Eric Beech)