Brexit's Impact on the Economy

The video discusses the economic changes following a political referendum, highlighting the devaluation of the pound and its impact on inflation and consumer prices. It explains how these changes affect everyday costs, such as flights and insurance, and explores potential interest rate cuts that could influence mortgages. The video concludes with an outlook on the uncertain future of global markets and their effect on personal finances.

What was one of the immediate effects of the leave vote on the economy?

• Increase in the value of the pound

• Decrease in import costs

• Depreciation of the pound

• Stability in inflation rates

How did the depreciation of the pound affect consumer costs?

• It made flights and insurance cheaper

• It increased the cost of goods and services abroad

• It had no effect on consumer costs

• It decreased the cost of imported goods

What is a potential consequence of rising inflation mentioned in the video?

• Decrease in insurance premiums

• Decrease in interest rates

• Increase in the value of the pound

• Stability in consumer prices

What could happen to mortgage rates if the base rates are cut to zero?

• Mortgages could become cheaper

• Mortgages could become more expensive

• Mortgages could be unavailable

• Mortgages could remain the same

What is the broader economic concern mentioned towards the end of the video?

• Stability in the global economy

• Decrease in global trade

• Uncertainty in global money markets

• Complete mapping of future economic events