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Podcast: Beyond Currency
Episode: 5 July 2023 - When will Fed gain independence from inflation?
Description: There was some good news and some bad for the Bank of England and the economy yesterday.
The average interest rate on a five-year fixed mortgage reached 6% as the home loan market continued to react to the prospect of the Bank adding further hikes to the base rate. This will reverberate throughout the entire housing market and the wider economy.
The good news came from J.P. Morgan, who published a report in which it exonerated the Bank from the blame for the increases that have taken place over the past eighteen months.
The U.S. Bank which has its...