Are we heading for a recession?
Coffee House Shots
The Spectator
4.4 • 2.2K Ratings
🗓️ 3 November 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Also on the podcast, Rishi Sunak plans to remove the 'legal but harmful' censorship clause from the Online Harms Bill, what will this mean for online safety?
Katy Balls speaks with Fraser Nelson, James Forsyth and Kate Andrews.
Produced by Natasha Feroze and Oscar Edmondson.
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Transcript
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| 0:00.0 | This episode is sponsored by Canacord Genuity Wealth Management. |
| 0:04.0 | Experienced wealth planners and investment managers |
| 0:06.7 | who offer unwavering support in challenging times. |
| 0:09.8 | Visit kanduwealth.com for more information. |
| 0:17.0 | Hello and welcome to Copy How Shots, |
| 0:18.8 | a spectator's daily politics podcast. |
| 0:21.2 | I'm Katie Balls, and I join by James Ascif, Fraser Nelson, and Kate Andrews. |
| 0:26.4 | Today in the Bank of England has raised rates to 3%. |
| 0:29.7 | This is the biggest interest rate to hike in decades. |
| 0:32.7 | What small they've warned of a two-year recession? |
| 0:35.8 | Kate, how much of this can be pinned on the not-so-mini budget? |
| 0:39.7 | And how much of this is global factors? |
| 0:42.6 | That's a really good question. |
| 0:44.0 | I think what happened today is more about global factors than it is the mini budget. |
| 0:50.3 | Right after the mini budget, as we saw that market chaos and investors started freaking out, |
| 0:55.8 | the market expectation was interest rates to rise in a one-off, |
| 1:00.4 | well over one percentage point. |
| 1:02.3 | People were expecting something close to 1.25 percentage points. |
| 1:05.9 | That was a result of the mini budget. |
| 1:08.5 | Obviously, what you saw today and the consensus, |
| 1:11.3 | because it changed over the following weeks when the mini budget was rolled back, |
| 1:15.2 | and where she's seen that came in as Prime Minister, |
... |
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