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The pound, inflation, rates and energy bills… what next? TiM podcast

Inflation fell back below double digits to 9.9% in August and the bailout of Liz Truss' energy price guarantee should bring it down further, but interest rates are set to rise further

The pound, inflation, interest rates and energy bills… what happens next? It’s the Money Podcast

The Bank of England is expected to raise interest rates by at least 0.5% this week, but the pound fell to a 37-year low last week – hitting $1.351, a level not seen since 1985.

This comes against a backdrop of inflation falling slightly to 9.9% – lifting Britain out of the double-digit inflation club – with a colossal bailout to save households and businesses from soaring energy prices about to shoot up.

Details of this energy price guarantee hastily announced by new Prime Minister Liz Truss – and how its potential £150billion cost will be paid for – are still scarce, but are expected to be sketched out in more detail this week. .

Meanwhile, on Friday, a mini budget is set to arrive with rumored tax cuts as Truss and his new chancellor Kwasi Kwarteng push for growth.

In this podcast episode, Georgie Frost, Helen Crane and Simon Lambert examine the pound, energy bills, inflation and interest rates, how all these issues are linked and what could happen next?

Also on the agenda for discussion are rising savings rates and whether savers should fix or stick with short-term easy-access offers, and a question about early inheritance life-changing £500,000 where the balance lies between saving, paying off the mortgage or investing.

And finally, eclipsing all the financial events of a whirlwind fortnight, Queen Elizabeth II passed away, ending her 70-year reign, and ushering in a period of national mourning that ended before the eyes of the whole world with her funeral.

But what will happen to British money now and when will we start to see King Charles III on our money?

Inflation fell back below double digits to 9.9% in August and the bailout of Liz Truss' energy price guarantee should bring it down further, but interest rates are set to rise further

Inflation fell back below double digits to 9.9% in August and the bailout of Liz Truss’ energy price guarantee should bring it down further, but interest rates are set to rise further

Listen to the This is Money podcast

We release the podcast every Friday to the reader on This is Money, above, and on Apple Podcasts (iTunes), Audioboom, Spotify and more.

To download the Apple Podcasts app if you don’t already have it, go to the App Store. Or go to the Apple App Store or the Google Play Store on Android to download the AudioBoom or Spotify apps.

Hit play to listen to this week’s full episode on the player above, or listen (and please subscribe and watch us again if you like the podcast) on Apple Podcasts, Audioboom and Spotify or visit our This is Money Podcast page .

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