Economics
Pandemic Risks Inflicting Longer-Term Damage on U.K. Economy
- Policy makers say they can expand asset purchases further
- Officials voted unanimously to keep policy unchanged
Shops shuttered and closed under lockdown measures in Liverpool, on March 24.
Photographer: Christopher Furlong/Getty Images
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The Bank of England said the economic fallout from the coronavirus pandemic risks becoming entrenched, with some companies already describing the current shock as being worse than the 2008 financial crisis.