The day the earth stood still

As the UK public voted to leave the EU, the country quickly fell into meltdown. Sterling plummeted, and market makers shouted into phones as confidence in the UK crumbled after the opening of stock exchanges on Friday 24th June.

But the reality is that markets almost immediately started to recover. This was in no small part due to the words of Mark Carney, Governor of the Bank of England, providing support to any UK banks that might need it, but it highlights the need for a balanced and long term view of the economic cycle.

The most obvious fallout from the referendum was in fact a political one, with both of the main parties thrown into the grip of leadership battles; one out of necessity the other an all-out rebellion.

Now that Theresa May has the backing of the Conservative Party there is some stability, but as a previous Home Secretary, little is yet known of her economic policy.