Pantheon Macroeconomics - Most of the time, sterling broadly tracks a path implied by the difference between markets' expectations for interest rates in the U.K. and overseas. During the financial crisis, however, sterling fell much further than interest rate differentials implied, as our first chart shows.

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3 May. How Far Would Sterling Fall if Britain Chose Brexit?

By Samuel Tombs

Most of the time, sterling broadly tracks a path implied by the difference between markets' expectations for interest rates in the U.K. and overseas. During the financial crisis, however, sterling fell much further than interest rate differentials implied, as our first chart shows.

Posted: 3rd May 2016 in 'U.K. Documents'

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