OPINION
Market Rating Before FOMC MeetingJan 31
London Bridge Has Collapsed: What Will Change After Elizabeth II's Passing Away?
The day we left behind, in a statement made by Buckingham Palace, it was reported that Queen Elizabeth II of England passed away at the age of 96.
While it was announced that the Queen passed away in the afternoon, the news was announced with the motto 'London Bridge Has Collapsed' in the evening and the flags were lowered at half-mast in Buckingham Palace. It was stated that the body of the queen will be taken to London today.
Elizabeth, who was crowned with an official ceremony on June 2, 1953, after the death of her father, King George VI, at the age of 26, became the "the longest-standing sovereign in British history" with her 70-year reign in the British Monarchy. Following the Queen's death, her 73-year-old son, Charles, took the throne and became King of England.
While 12 days of mourning are declared in the country, after the official funeral to be administered by the Archbishop of Canterbury, the Queen's body will be visited by the public for 4 days and 23 hours a day, by placing a catafalque at Westminster Palace. She will be buried next to her husband, Prince Philip, after a ceremony at Windsor Castle, 10 days after the Queen's passing away.
One Step Back: Elizabeth was born on 21 April 1926 in London, the eldest daughter of the Duke and Duchess of York, who would become King George VI and Queen Elizabeth. During her tenure, Elizabeth saw a total of 15 British prime ministers, from Winston Churchill to Liz Truss.
After Elizabeth's passing away, there will be changes in many areas bearing the royal symbol in the country. The image of Elizabeth on British flags, banknotes, coins, and stamps will be removed and replaced with the image of her son Charles. First, thousands of flags with the 'EIIR' symbol, which is the abbreviation of her name, will be replaced. These will also apply to British Commonwealth members Australia, Canada, and New Zealand.
On the other hand, it is estimated that there are 4.5 billion pounds of banknotes with the picture of Elizabeth II, and the total value of them is 80 billion pounds. According to local sources on the matter, it is predicted that it will take at least two years to use the image of the new King on all of the coins and banknotes in question.
After the Queen's passing away, messages of condolence came from world leaders. In her speech on Downing Street, Britain's new Prime Minister, Liz Truss, said: " She has been our longest-ever reigning monarch. It is an extraordinary achievement to have presided with such dignity and grace for 70 years.”, while US President Joe Biden, in a joint message with his wife Jill Biden, stated " Her Majesty Queen Elizabeth II was more than a monarch. She defined an era.”
German Chancellor Olaf Scholz said: 'We mourn the death of Queen Elizabeth II. She will be missed, not least her wonderful humor.”, while EU Commission President Ursula Von der Leyen reminded us that Queen Elizabeth is the world's longest-serving president, and she witnessed wars, peace, and deep transformations in Europe.
It is a rather intangible possibility that the change of throne in England will have a significant impact on pound assets. At this point, it seems likely that inflation and recession scenarios will continue to be gripping in the underlying pricing story of pound assets.
While it was announced that the Queen passed away in the afternoon, the news was announced with the motto 'London Bridge Has Collapsed' in the evening and the flags were lowered at half-mast in Buckingham Palace. It was stated that the body of the queen will be taken to London today.
Elizabeth, who was crowned with an official ceremony on June 2, 1953, after the death of her father, King George VI, at the age of 26, became the "the longest-standing sovereign in British history" with her 70-year reign in the British Monarchy. Following the Queen's death, her 73-year-old son, Charles, took the throne and became King of England.
While 12 days of mourning are declared in the country, after the official funeral to be administered by the Archbishop of Canterbury, the Queen's body will be visited by the public for 4 days and 23 hours a day, by placing a catafalque at Westminster Palace. She will be buried next to her husband, Prince Philip, after a ceremony at Windsor Castle, 10 days after the Queen's passing away.
One Step Back: Elizabeth was born on 21 April 1926 in London, the eldest daughter of the Duke and Duchess of York, who would become King George VI and Queen Elizabeth. During her tenure, Elizabeth saw a total of 15 British prime ministers, from Winston Churchill to Liz Truss.
After Elizabeth's passing away, there will be changes in many areas bearing the royal symbol in the country. The image of Elizabeth on British flags, banknotes, coins, and stamps will be removed and replaced with the image of her son Charles. First, thousands of flags with the 'EIIR' symbol, which is the abbreviation of her name, will be replaced. These will also apply to British Commonwealth members Australia, Canada, and New Zealand.
On the other hand, it is estimated that there are 4.5 billion pounds of banknotes with the picture of Elizabeth II, and the total value of them is 80 billion pounds. According to local sources on the matter, it is predicted that it will take at least two years to use the image of the new King on all of the coins and banknotes in question.
After the Queen's passing away, messages of condolence came from world leaders. In her speech on Downing Street, Britain's new Prime Minister, Liz Truss, said: " She has been our longest-ever reigning monarch. It is an extraordinary achievement to have presided with such dignity and grace for 70 years.”, while US President Joe Biden, in a joint message with his wife Jill Biden, stated " Her Majesty Queen Elizabeth II was more than a monarch. She defined an era.”
German Chancellor Olaf Scholz said: 'We mourn the death of Queen Elizabeth II. She will be missed, not least her wonderful humor.”, while EU Commission President Ursula Von der Leyen reminded us that Queen Elizabeth is the world's longest-serving president, and she witnessed wars, peace, and deep transformations in Europe.
It is a rather intangible possibility that the change of throne in England will have a significant impact on pound assets. At this point, it seems likely that inflation and recession scenarios will continue to be gripping in the underlying pricing story of pound assets.
