The political dimensions of the pound's depreciation are also worth monitoring. In the short term, they could include a renewed perception that financial developments are again favoring "international elites" at the expense of less fortunate segments of the population that have to deal with an inflationary threat. The positive responses of the stock market favor the better-off, who account for a disproportionate share of equity holdings. These developments are taking place even as the government is ramping up populist rhetoric in an effort to draw political support away from both the Labour Party and UKIP.