Economics
U.K. Is a Test Case for Joined-Up Economic Action on Virus
- In the financial crisis, U.K. was first to shore up banks
- Central bank, government may act in tandem this week
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Britain may once again become a model for fighting an economic slump more than a decade after setting the tone in the financial crisis.
The government is due to unveil its budget on Wednesday, a major fiscal set piece that’s now likely to unleash some short-term stimulus to combat the coronavirus. With the Treasury and central bank stressing they are working together to craft a response, the stage is set for the coordinated policy action investors have been crying out for after the biggest market rout in more than a decade.