The pound, inflation, rates and energy bills… what next? TiM podcast

The Bank of England is tipped to raise interest rates by at least 0.5 percent this week, but the pound fell last week to its 37-year low, reaching $1,351, a level not seen since 1985.

That comes against a backdrop of inflation falling slightly to 9.9 percent – taking Britain out of the double-digit inflation club – with a colossal bailout plan to bail out households and businesses from soaring energy prices.

The details of that energy price guarantee put out by new Prime Minister Liz Truss – and how the potential £150bn cost will be paid – are still scarce, but are expected to be outlined in more detail this week.

Meanwhile, a mini-Budget will be out on Friday with a rumored round of tax cuts as Truss and her new Chancellor Kwasi Kwarteng pull out all the stops to grow.

In this podcast episode, Georgie Frost, Helen Crane and Simon Lambert take a look at the pound, utility bills, inflation and interest rates, how all these things are interrelated and what could happen?

Also on the agenda for discussion are rising savings rates and whether savers should adjust to or stick with short-term easy access, and a question about a £500,000 life-changing early inheritance and where the balance lies between saving, paying off the mortgage. or invest.

And finally, eclipsing all the financial events of a fourteen-day whirlwind, Queen Elizabeth II died, ending her 70-year reign and ushering in a period of national mourning that ended in the eyes of the whole world with her funeral. .

But what will happen to Britain’s money now and when will we see King Charles III on our money?