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Podcast: Beyond Currency
Episode: 12 July 2023 - U.K. facing a property market crash as well as a recession?
Description: The Bank of England has been hiking interest rates for almost twenty months to reduce inflation which rose into double figures earlier this year. They have been completely transparent about their intentions, with the Governor providing the market with a reasonable amount of advance guidance.
The Bank’s actions have signalled the end of an era of low inflation and low interest rates, which stretches back to the financial crisis of 2008.
Over roughly the same period, the mortgage market in the UK has evolved to such an extent that now, around 80% of home loans are fixed. It is common for lo...