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UK remains on course for 0.2 per cent growth in 2020 Q1, but outbreak of the coronavirus poses a major threat to the economic outlook
The post-election boost to business confidence in the UK has softened in February, partly due to COVID-19 related disruptions. With no clear indication that the disruption will come to halt soon, the gains made by the major sectors at the start of the year could quickly dissipate. In response to this outbreak, the Bank of England has moved today to cut interest rates and the Chancellor is likely to announce fiscal measures to alleviate the possible economic effects of the coronavirus. With elections settled and Britain already officially out of the EU, the Chancellor now has a chance in today’s budget to build for ... (full story)