Saturday, 18 June 2016

Growth concerns prompt Fed decision

GLOBAL financial markets have had a roller coaster week, especially after polls earlier this week showed that Brits may vote in the June 23 referendum to leave the European Union (EU) rather than remain in the 28-member grouping.

Suddenly Brexit, as the vote to leave the EU is better known, is becoming more of a reality despite the suspension of the campaigns to stay or leave following the tragic death of Jo Cox, the British Labour Party member of parliament.

The uncertainties surrounding Brexit have turned financial markets on their heads, with many central-bank officials and business leaders warning of the dire consequences of Britain choosing to leave the EU, given London’s position as a leading business and financial centre.

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