BOE May Make Smaller Adjustments, Says RBC's Lignos

The transcript discusses the potential for monetary policy shifts in the UK, highlighting dissent within the MPC and the softening of economic indicators. It examines the Bank of England's survey measures and the evolving economic expectations post-referendum. The discussion also covers the concept of nimble monetary policy, with examples from the ECB and the Fed, suggesting a move away from traditional consistent cycles.

Discuss the implications of the economic surprise indicator turning negative as mentioned in the text.

What changes in central bank behavior are implied in the text regarding monetary policy adjustments?