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Podcast: Beyond Currency
Episode: 17 June 2022 - Bailey unable to avoid recession
Description: The Bank of England duly complied with the view of just about every commentator, analyst and economist in the financial market yesterday by hiking interest rates by 0.25% to 1.25%. This is the highest level rates have been since 2008.
Those with floating mortgages will see their repayments rise straight away while those on a fixed rate/fixed term will enjoy the luxury of a lower rate for a little longer.
Andrew Bailey, the Bank’s Governor, commented in his post decision press conference that inflation could reach 11% this year. That set off a fury in the press, which believes every word he sa...