Brown rejects switching inflation target

In a keynote speech to the International Monetary Fund's international monetary and financialcommittee, attended by 24 finance ministers, UK Chancellor, Gordon Brown, rejected calls for the UK to adopt a 2% inflation target to fit in with the euro-area.

Rejecting calls that he should cut the inflation target from 2.5% and bring it into line with the 2% ceiling in the single-currency zone, the chancellor underlined his concern over the ECB's structure and conduct by continuing with a go-it-alone

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