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Podcast: Beyond Currency
Episode: 22 March 2023 - Market expects BoE to hike again
Description: One of the most telling statistics from the housing market and the effect of fifteen months of rate hikes has been the fall in stamp duty receipts. There has been a 27% fall compared with the same month a year ago.
The fall from £1.3 billion in February 2022 to £900 million last month is a product of the severe squeeze that has been placed on household budgets by rising inflation. With real wages continuing to fall there is little prospect of any revival in activity before the end of the year.
Following the mayhem caused by the mini budget during Liz Truss’ premiership when...