BoE: Coronavirus eclipsed Brexit as source of concern about economic health of UK

Eren Sengezer FXStreet

The coronavirus outbreak has eclipsed Brexit as a source of concern about the economic health of the UK, the Bank of England's (BoE) citizens' panel showed.

"The citizen panel expects COVID-19 to have a large and lasting impact on the economy and society more broadly," the BoE added. "The citizen panel expects changes in consumer behaviour to continue for a period beyond the lockdown."

Market reaction

Market participants largely ignored this headline. The UK's FTSE 100 100 was last seen losing 3.3% on the day at 5,710.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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