Premium
Forecast in detail
Publication year - 2020
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/1468-0319.12486
Subject(s) - economics , government (linguistics) , debt , government debt , covid-19 , monetary economics , economic policy , fiscal policy , macroeconomics , medicine , philosophy , linguistics , disease , pathology , infectious disease (medical specialty)
The immediate fiscal consequences of the coronavirus pandemic are likely to be greater than those of the financial crisis in 2008–09. This reflects both the damage to the economy from containment measures and the cost of government policies to support incomes. But with gilt yields close to record lows and demand for UK government debt bolstered by BoE purchases, the interest cost of a temporary surge in the deficit should be modest.