Financial markets
"vastly underestimated" the outcome of Britain's vote to leave the
European Union but did not panic on Friday, International Monetary Fund
Managing Director Christine Lagarde said on Sunday.
"There was a violent,
brutal, immediate massive move, the pound went down by 10 percent,"
Lagarde told a forum at the Aspen Ideas Festival in Aspen, Colorado. "But
there was no panic and the central bankers did the job that they were prepared
to do just in case, which was to put a lot of liquidity on the markets."
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