What is brass monkey weather?

Extremely cold weather, used by people of Sunderland and possibly Newcastle (I am not saying the 2 are the same, don't worry) as they are the only type of people who I have heard say it. "Brass monkey weather" is called thus because the temperature is so cold that "it would freeze the bollocks of a brass money".

#1: Boooar, its brass monkey weather!
#2: Ha? What?
#1: It would freeze the bollocks of a brass monkey
#2: Genius.

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brass monkey weather - video