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

- Advertisement -

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.

- Advertisement -

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.

- Advertisement -

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.

- Advertisement -

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.

Listen to the “It’s Money” podcast

We publish a podcast every Friday for the player on the This is Money pages above and below. Apple Podcasts (iTunes), the most popular, Spotify, audio boomand much more.

To download the Apple Podcasts app, go to the app store. On Android devices, go to the Google Play Store to download the podcast app of your choice.

You can hit the play button to listen to this week’s full episode in the player above, and wherever you get your podcasts, subscribe and review us if you enjoyed the podcast.

We are now available on YouTube and you can ask your smart device to “play the This is Money podcast”.

If you don’t like the apps, you can also listen to the latest episode and archive on the This is Money podcast page.

THIS IS MONEY PODCAST

Could this be the peak of interest rates? What does this mean for you
Will we raise the state retirement age to 68 earlier than planned?
Could an Isa tax raid really limit savings to £100,000?
Can you afford the pension you want?
Will 2023 be the best year for our finances… or worse?
Major financial events in 2022 and what’s next?
Are you tempted to “retire” after you leave your job early?
When will interest rates stop rising and how will it affect you?
Could home prices really fall by 20% and how bad would that be?
Do you need to worry about tax on savings and investments?
Have savings and mortgage rates peaked yet?
What does Hunt’s tax raid mini-budget mean to you?
All tax raid! Will all these threats backfire?
Have we gone too hard on buying to rent and hurting tenants?
Is the UK economy striving for stability or is it just new problems?
Nick Hounsfield of The Wave: How I Fulfilled My Surfing Dream
What are guinea pigs and how did market frenzy overthrow Kwasi?
How serious will mortgage chaos become and will it lead to a fall in house prices?
Did the UK create a mini-financial crisis… and who’s to blame?
What does the tax cut mini-budget mean to you?
Pound, inflation, tariffs and electricity bills… what’s next?
Get a Better Retirement: Steve Webb Answers Your Questions
Can these crisis cost-of-living cuts hurt your wealth?
Will the government deliver on its promise of a triple block on state pensions?
Inflation reaches double digits for first time since 1982
Will rates continue to rise? Special podcast about our savings
Why does the Bank of England raise rates during a recession?
Getting out of the holiday cycle? Our Top Tips for a Successful Travel
Could you save enough to be financially independent?
What would you teach someone about money to live a richer life?
What will the fall of Boris mean for our finances?
How to beat unfair private parking fees
Is skipping a mortgage stress test a wise move?
How will the rapid rise in interest rates affect you?
Are you saving enough for retirement? (And a new retirement confusion)
How to protect yourself from holiday chaos this summer?
What would you do if you suddenly became super rich?
Is a recession inevitable as inflation hits the UK?
Will rising interest rates stop the house price boom?
Resurrection Purchase Eligibility: Could the Updated Scheme Work?
What’s the point of saving when inflation is so high?
What can we do to deal with rising electricity bills?
What to do in the conditions of the mortgage crisis and will the rates rise?
Key April changes to your personal finances, including an increase in NI
Retirement, Isa or Lifetime Isa: Which is Best for You?
Why did Rishi Sunak cut taxes and raise them at the same time?
Was the rate hike the right move and will it slow down inflation?
Could you be a millionaire and financially independent?
How will the Ukrainian crisis hit investors and your finances?
Can Middle Age TR help you have a richer future?
Are smart meters worrying us too much, or is the price spike a threat?
Rate hike, energy cap and 7% inflation warning
Can we stop our bills from rising… and is there any point in fixing it?
Stephen Bartlett Interview: The New Dragon in the Lair
How to get your finances in order at 40 (and in the UK in 1982)
Do building societies and banks play fair with depositors?
From Inflation to Investment Mistakes: Best of 2021
Christmas isn’t cancelled, but what if your show or event is cancelled?
Was the Bank of England right in raising interest rates?
How much will life cost you and what will you spend on?
2022 looks bleak for our…