Implications of Sterling's fall

Sterling's decline has resumed in the last week as it has become increasingly apparent that the Government will adopt a 'hard BREXIT' strategy. Since 22nd June 2016, the day before the EU referendum, to date, Sterling has declined by 16.6% against the USD and 14.3% against the Euro. This note looks at the implications of this material fall on inflation, monetary policy, growth, trade, politics and equity markets.Please do not hesitate to contact us for a copy of the note.