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Podcast: Beyond Currency
Episode: 31 July 2023 - Bank of England draft in Ben Bernanke
Description: HSBC and Nationwide led the way last week in reducing their standard rate for floating rate mortgages as interest rates stabilized. However, the rate for a two-fixed loan was still higher than it was at the start of the month. The peak was at 6.89% earlier.
The pressure on the Monetary Policy Committee is expected over the next year as inflation begins to fall, but in the short term, it is expected that there will be another seventy-five basis points of hikes before a pause is announced.
During the prolonged period over which the Bank of England has continued its cycle...