Are interest rate cuts on hold and what does that mean for you? This is the Money podcast

Inflation briefly fell below the Bank of England’s 2 percent target, with the latest CPI figure coming in at a higher-than-expected 2.3 percent.

Meanwhile, Bank of England boss Andrew Bailey has joined the Office of Budget Responsibility in saying the recent autumn budget is likely to push up inflation as employers face higher costs from national insurance and the rising minimum wage.

Across the Atlantic, newly elected President Donald Trump is seen as exerting his own inflationary pressures, which could spread from the US to the rest of the world.

What does this mean for interest rates? Are austerity about to stall – and what happens next for borrowers and savers?

In this week’s podcast, Georgie Frost, Helen Crane and Simon Lambert talk about inflation, interest rates, mortgages and savings.

The team is also looking at whether those who need to get a mortgage now should arrange this for two or five years.

And why the row over inheritance tax and farmers is symptomatic of Britain’s poor tax system – and Simon’s plan for a compromise on IHT-free land.

Crane continues with the case that the money for a defective coffee machine was much later refunded to an empty gift card that understandably ended up in the trash.

And finally, the listening question of the week is topical, and it is about keeping the man alive and having enough money to stop working for good.