Publication - Brexit and the pound - speech by Ben Broadbent - Speech given by Ben Broadbent, Deputy Governor Monetary Policy Imperial College, London 23 March 2017
Introduction and summary
The vote to leave the EU led to a big drop in sterling’s exchange rate. One consequence is a rise in import prices and a squeeze on households’ real income. We may already be seeing the impact of that squeeze on retail spending, which in real terms fell quite sharply around the turn of the year.