BREXIT SIGNALS GROWING PAINS FOR ECONOMY
It has been almost two months since Britain voted to leave the EU, with the first signs of contagion really taking hold on the economy. We have learnt this week that economic contraction took place in July, with the manufacturing sector suffering especially. Following the decision by the Bank of England last week to cut interest rates, questions remain over whether this will really do anything for boosting lending-to-businesses. Nevertheless, we could see a strengthening of the British consumer who will be encouraged to spend rather than see their savings continue to be eroded away. Read More…..