March 11, 2020 / 9:29 AM / a month ago

BoE's Carney says shock from coronavirus could be 'large and sharp'

FILE PHOTO: Mark Carney, Governor of the Bank of England, makes a keynote address to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) at Guildhall in London, Britain February 27, 2020. Tolga Akmen/Pool via REUTERS

LONDON (Reuters) - Bank of England Governor Mark Carney said the economic impact from coronavirus could be “large and sharp” and economic activity will likely weaken materially in the coming months.

“The Bank of England’s role is to help UK businesses and households manage through an economic shock that could prove large and sharp but should be temporary,” Carney said at a press conference.

Reporting by David Milliken; writing by Andrew MacAskill; editing by Kate Holton

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