If you do the arithmetic, the net contraction is even worse than it appears – a decline in company value of 9%. Let the pound fall and the economy rise Read moreThere are three factors involved, not one. The conclusion is that both the pound and the stock market have declined substantially in real terms because of Brexit. So we are likely to end up with both more expensive imports and more expensive exports. Not a good mix and, at some stage, this devalued penny will have to drop.

Source: The Guardian October 19, 2016 18:29 UTC