BOE Needs Scope to Cut If Brexit Leads to Recession, JOHCM Says

The video discusses the current state of gilt market yields and the potential impact of Brexit on the economy. It highlights the global trend towards zero interest rates, with the Nordics as an exception, and the possibility of a recession. The discussion emphasizes the importance of central banks maintaining flexibility in their strategies due to uncertainties, particularly in England, and advises against preemptive rate changes.

What does the speaker imply about the future economic growth and potential recession?

What is suggested about the central banks' response to market pressures?