BOE Downplays Negative Impact of China Slowdown on UK Economy
Bank of England (BOE), via its quarterly bulletin, assured markets the UK economy is less exposed to China slowdown as widely believed.
Key points
Slowdown of 1% in China equates to around 0.1% reduction in UK GDP
Further slowing of growth in China is expected
There’s a danger growth shock estimates are understated
China plays an ever important role in the global economy
(Market News Provided by FXstreet)
