MOSCOW (Sputnik) — Australia's economy is unlikely to be negatively affected by the United Kingdom's exit, as bilateral trade ties are weak and the links between the two nations' banking systems have also decreased in recent years, according to the report.
"Australia has proved resilient during past periods of financial market volatility and remains well placed to manage the economic and financial market response to Brexit. The effect on economic activity in Australia, and the financial sector, is expected to be small," the report said.
The implications of the Brexit referendum would depend on the subsequent negotiations between London and Brussels, the report added.
On June 23, UK voters backed leaving the 28-nation bloc in the referendum, sending shockwaves across financial markets all over the world.
