The pound, inflation, rates and electricity bills… what’s next? The TiM podcast

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

It comes amid inflation easing slightly to 9.9 per cent – taking Britain out of the double-digit inflation club – with a mammoth plan to rescue households and businesses from spiraling energy prices about to begin.

Details about it energy cost guarantee new prime minister Liz Truss threw in – and how the potential £150bn cost will be paid for – is still scarce, but is expected to be detailed this week.

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

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

Also on the agenda for discussion are rising savings rates and whether savers should adjust or stick to short-term easy access arrangements, as well as the life-changing £500,000 early inheritance and where the balance lies between savings , paying off a mortgage or investing.

And finally, overshadowing all the financial events of a tumultuous fortnight, Queen Elizabeth II died, ending her 70-year reign and beginning a period of national mourning that ended in full view of the world with her funeral.

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