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World

Brexit impact hits - UK's credit outlook cut

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Opening sequence

World

Brexit impact hits - UK's credit outlook cut

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COMING UP:Brexit impact hits - UK's credit outlook cut

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00:00:01
>> It was a vote that shocked the market, sent the prime minister packing, and saw the pound drop to its lowest level in decades. And the weekend brought no break to the upheaval. The ratings agency Moody's downgrading its outlook for Britain after the 52-48 vote to leave the European Union.
00:00:20
>>
INAUDIBL
]>> Moody's predicting a long period of uncertainty and weaker growth and warning of the steep challenges ahead, as the UK negotiates its exit.>>
NOISE]>>
The frontrunner to take over at number ten, Boris Johnson, is urging calm.>> There is no need for haste.>> But Britain's under pressure to act soon.
00:00:40
The head of the European Commission says he wants to begin negotiations immediately.>> As soon as possible.>> The divorce though could be messy with Britain's access to the EU Single Trade Market at risk, the agreement it secures may determine how long the current turmoil will last.