Brexit: what this means for Banking and Finance
So we have decided to leave the European Union. Whether or not that will ultimately be the best thing for the UK economy is something that only time will tell.
However, one thing is for certain. The financial markets and the banking sector hate uncertainty. The government needs to move quickly to reassure the business community by setting out a clear plan to replace existing trade and other arrangements with the EU and the world as a whole.
Particularly in the short term, the role of the Bank of England will be key. At a time when the monetary tools available to them are already limited, they need to find a way to protect the pound and keep interest rates at a level that enables companies to continue to borrow and invest in what will hopefully be a prosperous economic future for the UK.
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