How Will Weak Sterling Impact U.K. Economy?
Global markets declined sparked by Britain’s decision to leave the European Union. Markets buckled and about $3 trillion was erased from equity values following the U.K.’s referendum on EU membership, which ended with a majority backing the “Leave” campaign and Prime Minister David Cameron resigning. U.K. government bonds surged as the nation voted to leave the European Union amid speculation the Bank of England will maintain an easy monetary policy to ward off the risk of recession after the departure. Plurimi Wealth CIO Patrick Armstrong discusses with Bloomberg's Anna Edwards on "Countdown."
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Draghi: Mustn’t Use Policy to Pop Local Bubbles
08:09 - European Central Bank President Mario Draghi issued a reminder that the European Central Bank doesn’t tighten monetary policy to tame localized bubbles. He spoke in his role as chair of the European Systemic Risk Board at the ESRB Conference in Frankfurt. (Source: ESRB) (Source: Bloomberg)