Britain has been warned to expect "some market and economic volatility" in the wake of the Brexit vote.
Bank of England Governor Mark Carney said there will be a period of uncertainty and adjustment but insisted the bank was "well prepared".
After news of Brexit emerged, more than £100 billion was wiped off the FTSE 100 as the index fell more than 7%, while the pound also crashed 8% against the US dollar.
Speaking after David Cameron announced his resignation as prime minister, Mr Carney said:
- it will take time for the UK to establish new relationships with Europe and the rest of the world
- Britain can expect economic volatility
- he has remained in close contact with chancellor
- The Bank of England will not hesitate to implement necessary measures
Mr Carney - who had suggested Brexit could spark recession - was attempting to calm nerves and project stability, our deputy political editor said.