LONDON (UK) – The British economy may suffer long-term damage as a result of the current shutdown due to the coronavirus. It is highly uncertain how severe the economic damage will be, according to Bank of England Governor Andrew Bailey.
Bailey was unclear if a 30% drop in Britain’s economic output in the first half of 2020 will prove to appear overly pessimistic or an under-estimate of the damage.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.