3 ms·
No, because your mortgage is still denominated in pounds. No change there. But most goods are sold from other countries, so their prices just went up overnight
by generj 10y ago
No, because your mortgage is still denominated in pounds. No change there.
But most goods are sold from other countries, so their prices just went up overnight. Of course, there are sticky prices but in general I would expect prices for imports to be higher in the near future with a weaker currency.
However, a weak currency does encourage exports, so it is true that the benefits/costs are complex. But in the past large currency devaluations have been harmful to the average citizen, and that is the consensus on them.