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What will happen to the economy, mortgage deals and the pound? The This is Money ‘don’t panic’ podcast

Because of this is money

Published: 17:54 BST, September 30, 2022 | Updated: 17:54 BST, September 30, 2022

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It was an incredibly turbulent week for the UK economy as the Bank of England stepped in to protect pension funds, the pound bottomed out against the dollar before recovering and lenders signed mortgage deals to reprice them at much higher rates.

This week, Georgie Frost, Simon Lambert and Lee Boyce tackle something truly remarkable in the world of personal finance with the message: Don’t panic.

So, is the UK economy in crisis… again? How much is the Chancellor’s ‘mini’ budget to blame? And what can the government do now?

Simon gives an economic 101 on why the pound fell and why the Bank of England stepped in, seemingly reversing quantitative tightening plans.

What will happen to mortgages? How will this affect new buyers, people looking to get a new mortgage, and the real estate market in general as lenders close deals and replace them with higher rates?

Will the base rate continue to rise and what does that mean? And a bright spot for savers: this week, NS&I has boosted Premium Bonds, while savings rates continue to skyrocket.

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