Profile image
By John Redwood's Diary
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Take off the Brexit glasses

Sunday, November 6, 2016 22:25
% of readers think this story is Fact. Add your two cents.

All too many commentators, reporters, market watchers and politicians are seeing everything through Brexit spectacles. The pound went up and down before Brexit, the economy grew and slowed before the vote, the Stock market rose and fell without a referendum. All the forces which moved markets and changed economies before still apply.

It is absurd to argue that sterlig rallied owing to extra uncertainty created by the recent legal judgement. Far more important was the Banks decision to back off from further rate cuts and more QE, real things which have a direct bearing on the value of the currency. It also helped that the Bank now sees that the economy will grow strongly this year, and will do better next year than it thought.

The recent fall in the Stock market has been put down to the possibility of a Trump win in the US election. Its the first time for months that a non Brexit reason has been given for a major change, Lets hope its a sign of better things to come in trying to explain why markets move.

Meanwhile as a few commentators have also noted, money growth continues at a rapid pace in the UK. This points to further strong growth next year, not to the EUro area style lower growth rate the Bank and others are now predicting.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.