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Across global stock markets the spread of coronavirus has resulted in an increase in volatility as investors focus on the impact on global economic growth. Whilst there are still high levels of uncertainty, and nobody knows how this will develop, global governments and central banks have taken swift and significant action to help mitigate the unexpected economic slowdown. UK and US interest rates have been significantly reduced and many governments across the world, including the UK have announced unprecedented stimulus packages to support their economies.
During times of market volatility it is important to focus on your longer term savings objectives and avoid making snap decisions - read our volatile market article.