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