The United Kingdom has voted to leave the European Union. There has been much speculation leading up to the vote about the financial and economic consequences of a vote to leave.
The initial reaction from markets has seen the pound fall against the dollar and stock markets weaken. It is too soon to know what the long term consequences are for the economy, interest rates and sterling. Additional short term volatility will be unsettling. In this environment, we believe Weatherbys’ careful and prudent approach to banking will stand our clients in good stead.
The Treasury and Bank of England have made clear their intent to support the stability of the UK financial system. Weatherbys is well positioned to offer our clients a safe harbour in uncertain times. We recognise the concern the vote will cause some of our clients, in particular those based in the euro zone. We endeavour to offer them excellent UK based banking services, as we always have, as they navigate the future.