BoE's Carney: No reason why UK economy should be hit as badly as 2008
Global Economy
11 March, 2020, 04:35 pm
Last modified: 11 March, 2020, 04:58 pm
“There is no reason for it to be as bad as 2008 if we act as we have, and if there is that targeted support,” he said
Picture: Reuters
There is no reason why the coronavirus outbreak should damage Britain's economy as badly as the financial crisis did in 2008, Bank of England (BoE) Governor Mark Carney said on Wednesday.
"There is no reason for it to be as bad as 2008 if we act as we have, and if there is that targeted support," Carney said at a news conference after the BoE cut interest rates to bolster the economy against the outbreak.
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