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Brexit breeds caution among banks and money makers

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Brexit breeds caution among banks and money makers

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Money markets and investors world wide are waiting with bated breath for the UK’s decision next week on its future, in or out, of the European Union.

The Federal Reserve included after its boss Janet Yellen announced U.S. interest rates would remain unchanged, leaving its main rate between a quarter and a half percent.

“Brexit, the upcoming UK decision on whether or not to leave the European Union, is something we discussed and I think it’s fair to say that it was one of the factors that factored into today’s decisions,” said Yellen.

Wall Street fell for a fifth straight session reflecting the Fed’s move and a growing possibility of a Brexit.

And like the Fed, the Bank of Japan is holding fire keeping monetary policy steady with its until after the June 23 referendum.

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