Could this be the peak for interest rates? Rate hikes and what they mean for you

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Are we almost there? The Bank of England raised interest rates again this week, adding 0.5% to raise the base rate to 4%.

This is a level that was almost unthinkable for us to reach so quickly a year ago, but the stakes are rising sharply and rapidly.

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Now the questions are, will the base rate stop and when will it come down again? But while the Bank of England has taken interest rates up like a rocket, its forecasts show that they will only fall like a feather.

In this week’s podcast, Georgie Frost, Tanya Jefferies, and Simon Lambert look at the likelihood that these predictions are correct, and what it all means for the economy, mortgages, savings, and first-time shoppers.

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Also on the show, Tanya talks about another potential retirement scandal that she and Steve Webb uncovered, and Steve joins the podcast to discuss it.

eToro’s Sam North gives us an update on the market and explains why investors caused the stock markets to soar in early 2023.

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The clock is ticking on the tax year and Simon explains the different types of Isa and why he believes the next few months are vital to getting money in the Isa and potentially selling some of the investment to do so.

And finally, do you like your dryer? Many do but worry they can’t afford to run them. Fear not, a more affordable tumble dryer can help.

The Bank of England chart shows changes in bank rates over the past 20 years.

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