by Nathan McDonald
The markets are disappointed. It was expected that the Bank of England would usher in a new wave of Quantitative Easing (QE) at its most recent meeting, yet this was not the case. Mark Carney has surprised many investors, sticking to the data and stating that no significant impact can yet be seen from the recent successful Brexit vote.
The fact is that the market is simply overreacting. The UK was and is going to remain one of the largest economies in the world. This economic powerhouse, although currently facing extreme uncertainty, is not going to disappear overnight.
Despite the jawboning from EU officials, and fearmongering from the bitter who lost in the recent referendum, countries are going to continue to trade with the UK and are going to continue to want British pounds.