So much for the Brexit economic crash

The Telegraph reports:

In an embarrassing u-turn, the International Monetary Fund has said the UK will be the fastest growing major economy this year. It follows earlier predictions that a vote to leave the EU could plunge the country into recession and trigger a stock market crash. 

The scare mongering was a major recession with huge spending cuts would be necessary.

A focus on the benefits of the sharp depreciation in the pound catapulted the domestically-focused FTSE 250 to a fresh intraday record high. The mid-cap index climbed by as much as 2.3pc to 18,607.13 in intraday trade.

Meanwhile, the internationally-focused FTSE 100 charged into bull-market territory, surging more than 20pc from its February nadir to 7,121.93 in intraday trading – a whisker away from its all-time record high of 7,122.74. However, it finished at 7,074.34 – up 90.82 points, or 1.3pc.

Not quite a stock market crash!