The best case scenario is based on a quick containment of the outbreak, with restrictions removed two months after a point set in late January, while the worst-case projection looks at a protracted outbreak that could see precautions in place for six months.
The bank said the"most important channel through which economic activity is affected is through a sharp but temporary decline in domestic consumption in China, resulting in behavioural and/or policy changes - people staying home as a precaution or because they are told to.” Asian shares fall sharply on Friday following heavy losses on Wall Street amid growing concerns about the fast-spreading coronavirus outbreak.
The DAX hit 11,700.07, edging closer to the low point of 11,624 seen at the start of the week. Losses for the whole week are looking to amount to 1.6 per cent.The CAC 40 index of blue chip shares on the Paris stock exchange was down 3.22 per cent in early trading on Friday after falls on Asian stock exchanges amid coronavirus fears.