06
Sep
by Marie-Elisabeth de la Serve and Laurent Ferrara
Since the vote on Brexit, the UK economy has shown resilience. However, due to the historically low level of savings rates, investment uncertainty and inflationary risk, we can ask ourselves whether the current growth model of the UK economy is sustainable over the short term.
The macroeconomic adjustment that followed the shock triggered by the referendum first took place via the exchange rate: the sterling depreciated in real terms by 15% between May 2015 (the date...