Sterling falls as surveys point to big Brexit hit
Posted by seumasach on July 23, 2016
Cutting interest rates will only further weaken the pound, fueling inflation and further undermining consumer spending. And so, we enter a vicious circle and a downward spiral. Brexit hasn’t caused this underlying economic weakness: it has merely prevented us from using our geopolitical clout to counter it as we could have done, for example, through the Comprehensive Strategic Partnership with China which was based on our role as gateway to Europe and, consequently, our membership of the EU.
23rd July, 2016
Sterling fell as reports suggesting that the UK’s manufacturing and services industries contracted in July heightened speculation that the Bank of England will cut interest rates as soon as next month.