IMF’s Obtsfeld - Possibility that UK leaves the EU is very real

IMF’s Obstfeld said UK economy is already facing the heat of Brexit and the possibility of Britons voting in favor of exit is very real.

Key quotes

Brexit is causing a lot of uncertainty and would be a significant global change

IMF is preparing more Brexit effect details

PBOC moved very forcefully on their FX communication

Unclear what rate is stall speed for the world economy