March 4, 2020 / 6:21 PM / 24 days ago

BoE's Broadbent moots temporary help for UK economy over coronavirus

LONDON, March 4 (Reuters) - Bank of England Deputy Governor Ben Broadbent said on Wednesday that policymakers may need to give extra help to Britain’s economy until the disruption from the coronavirus outbreak has passed.

He said the spread of the virus could have a “very significant” impact on the economy, although past episodes suggested this could be a temporary hit that should not affect the long-term future of businesses.

“Precisely for that reason, there may therefore be a role for economic policy to support activity and the provision of credit in the meantime, in order to ensure that short-term disruption doesn’t result in longer-term damage,” Broadbent said in a speech at London Business School. (Reporting by Andy Bruce, editing by David Milliken)

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