Lagarde Says Brexit Impact Hangs on Policy Makers’ Next Move

Much of the outcome “is going to depend on certainty or uncertainty, predictability or lack of predictability — people going in a risk-off mode or considering that the situation is going to settle back,” Lagarde said Sunday, speaking at the Aspen Ideas Festival in Colorado in a moderated question-and-answer session. “At this point in time, policy makers, both in the U.K. and in Europe, are holding that level of uncertainty in their hands. And how they come out in the next few days is going to really drive the direction in which risk will go.”