Brexit and the Australian economy

Financial market shock

Britain’s monumental vote to leave the European Union had an immediate impact on financial markets, including Australia’s.

Our share market fell by 3.2%, reflecting the large shift in sentiment. However, it was only down 1.0% on the previous week, with much of the drop countered by the incorrect ‘bet’ that the UK wouldn’t leave. The market has since recovered and is now up on the week prior to the decision.

Read the rest of the blog post here.