Bank of England drafts action plan to head off coronavirus recession
Economists warn UK on cusp of recession as Bank governor talks with Treasury over 'powerful and timely' response
Mark Carney has said the Bank of England is coordinating with the Treasury and international partners to deliver a "powerful and timely" response to the coronavirus outbreak, as investment bank Goldman Sachs warned the disruption could push the UK to the brink of recession.
Carney, the Bank's governor, said the economic hit could prove large but would "ultimately be temporary", adding that the Bank would take "all necessary steps" to support the UK economy and financial system. He was speaking less than a fortnight before he hands over to incoming governor Andrew Bailey.
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