The pound, inflation, interest rates and energy bills… what happens next? This is Money podcast

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The Bank of England is tipped to raise interest rates by at least 0.5 percent this week, but the pound fell to a 37-year low last week – reaching $1.351, a rate not seen since 1985 has gone.

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It comes against the backdrop of inflation falling slightly to 9.9 per cent – taking Britain out of the double-digit inflation club – as part of a massive rescue plan to keep homes and businesses from kicking in spiraling energy prices. with.

Details on that energy price guarantee by new Prime Minister Liz Truss – and how its potential £150bn cost will be paid for – are still sparse, but are expected to be sketched in more detail this week.

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Meanwhile, a mini-budget on Friday is set to come with a rumored round of tax cuts as Truss and his new chancellor Quasi Quarteng gear up for development.

On this podcast episode, Georgie Frost, Helen Crane and Simon Lambert look at the pound, energy bills, inflation and interest rates, how do all these issues connect and what could happen next?

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Also on the agenda for discussion are rising savings rates and whether savers should settle or stay on short-term easy access deals, and a question on a life-changing £500,000 initial inheritance and where the remaining amount of savings can be used to pay off the mortgage. between or investment.

And finally, in a whirlwind fortnight overshadowing all of the financial events, Queen Elizabeth II died, ending her 70-year reign, and beginning a period of national mourning, complete with her funeral. Under the eyes of the world.

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

Inflation fell below double digits to 9.9% in August and Liz Truss’s energy price guarantee hedge should drag it further down, but interest rates are still expected to rise.

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Credit: www.dailymail.co.uk /

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