Ukraine war will upend UK economic outlook

Value drop: A pedestrian walks past the Bank of England in London. Policy makers of the bank have warned that the Russian aggression on Ukraine may hurt growth for the UK. — Bloomberg

LONDON: Two Bank of England (BoE) policy makers warned that the fallout from the attack on Ukraine will upend the outlook for the United Kingdom economy, which had started to recover from the coronavirus pandemic.

Deputy governor Jon Cunliffe said the war may hurt growth, spurring a drop in the value of the most risky assets and raising the level of uncertainty.