WEDNESDAY 4 MARCH 2020Carney: Economy may get a
shock but it’ll be temporary
The Bank of England governor has laid out plans to support businesses (AFP/Getty)
BEN CHAPMAN
Bank of England governor Mark Carney has warned of a potentially large economic shock from the
coronavirus outbreak. However, he told MPs on the Treasury Select Committee yesterday that the impact
will ultimately prove to be temporary.
The governor’s comments come as the ministers’ latest plans revealed that up to a fifth of the UK workforce
could be off sick at the peak of a coronavirus epidemic.
Across the country, 51 cases of Covid-19 have been confirmed while globally, 3,000 people have died from
the respiratory disease caused by the virus.
Mr Carney said NHS workers, carers and public health officials were on the front line of tackling
coronavirus. “The Bank of England’s role is to help UK businesses and households manage through an
economic shock that could prove large but will ultimately be temporary,” he said.