Want to create an interactive transcript for this episode?
Podcast: Beyond Currency
Episode: 20 January 2023 - New pay deal offered to rail workers
Description: The Governor of the Bank of England, speaking on a visit to South Wales, spoke yesterday of his belief that inflation will have fallen significantly from the Spring, although he feels that the continued tightness of the labour market will lead to the Central bank needing to continue to hike the base rate which currently stands at 3.5%.
He refused to speculate on where rates will be when the Bank feels confident to pause the current cycle of interest rates rises.
The feeling in the financial markets is that rates will reach at least 4.5% before the bank ends the current phase...