Britain`s decision to leave the European Union sent new shockwaves through financial markets on Monday, with the pound falling despite the country`s leaders` attempts to ease political and economic turmoil unleashed by the move.
British 10-year government borrowing costs sank below 1 percent on Monday for the first time ever and sterling tumbled to a fresh 31-year low against the dollar as investors bet Britain`s vote to leave the EU will trigger a Bank of England rate cut.
China`s finance minister and leading economists on Sunday voiced concerns about Britain`s vote to leave the European Union, with the policymaker saying it has heightened market uncertainty, though some expect a limited impact on the Chinese economy.
The managing director of the International Monetary Fund (IMF), Christine Lagarde, said on Friday that following the vote in favour of Britain`s exit, or "Brexit", from the European Union, her organisation will keep watch on the outcome and is "ready to support" member countries in any financial difficulties they might come up against.
Global stock markets lost about $2 trillion in value on Friday after Britain voted to leave the European Union, while sterling suffered a record one-day plunge to a 31-year low and money poured into safe-haven gold and government bonds.