How quickly will interest rates fall – and what does that mean for you? This is Money podcast
By This Is Money
Updated:
The Bank of England finally cut interest rates last week, a decision that was described as dramatic.
Does the 5-4 vote to cut the base rate mean we are definitely on the way back or that we may have to wait a while for the next rate cut?
How far and fast will interest rates fall and what does that mean for you, your savings and your mortgage? In this podcast, Georgie Frost, Lee Boyce and Simon Lambert discuss what could happen next and what it means for you.
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The decision on rates came against the backdrop of the discovery of a £22 billion black hole in Britain’s finances by new Chancellor of the Exchequer Rachel Reeves.
She claims the Tories covered it up, but Jeremy Hunt says that’s not true.
Whoever is right, Reeves appears to be clearing the way for tax hikes and spending cuts — including the controversial measure to end winter fuel payments for most pensioners.
Was that the right move and will taxes go up? The team is looking into whether a raid can be made on the tax cut for pensions.
And finally, house prices are rising again. Is that good news or the last thing we need?
After rocketing from record lows, the base rate has finally been cut by the Bank of England
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