Could interest rates really rise this year and do we need to worry about car loans?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 30 June 2017
⏱️ 51 minutes
🧾️ Download transcript
Summary
What do you mean you’ve never seen The Big Short?
It was nominated for five Oscars, won one and features Brad Pitt, Christian Bale and the part-time stripper with five houses and a condo.
Watch it. Now! It’s all true. It’s about the financial crisis and it might all be about to kick off again.
The Bank of England this week issued its Financial Stability Report and it’s terrifying.
We’re in debt again folks. Last time it was houses and condominiums, this time it’s cars and credit cards, house prices and wages.
People are buying cars on credit like they take out mobile phone contracts.
Car companies have turned into money lenders, egged on by the banks. Yep the bank again. Did they learn nothing?
Meanwhile, the Bank of England needs to combat inflation by raising interest rates. How on earth can they do that in this climate?
Simon Lambert, Georgie Frost and Lee Boyce do their bejesus to explain.
Also on the show, there’s some brilliant stuff on…
Cash forever!
Can ATMs survive? And what’s your favourite ATM fact? The one that makes Batman appear, maybe?
Will the sneaky fund management industry finally reveal what charges they’re really skimming off?
The future of final salary pensions and the triple lock.
And the Queen’s beard.
Enjoy.
Transcript
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| 0:00.0 | Welcome to This Is Money Show, your weekly roundup of the top personal finance consumer and business stories that editor Simon Lambert and his team have been covering on their reward-winning website. |
| 0:13.1 | I'm your host, Georgie Frost, here alongside Simon and I is Consumer Affairs editor Lee Boyce. |
| 0:17.9 | And on the agenda today, as the Tories say a one billion pound hello to the |
| 0:23.1 | DUP, they wave goodbye to some key manifesto pledges, including getting rid of the pension's |
| 0:29.1 | triple lock. But how sustainable is it? Could political meddling be impacting our decision |
| 0:34.2 | to take advantage of the pension freedoms, and with more than 200,000 savers |
| 0:39.0 | planning to cash in their final salary pensions this year, should you join them? Also today, |
| 0:44.8 | do you care how much your fund manager charges, a big salary, an expensive holiday and a Porsche, |
| 0:50.7 | say you should? Talking of supercars, we ask who on earth would spend hundreds of thousands of pounds on a car? |
| 0:57.9 | And as the humble cash machine celebrates 50 years, we consider with the rise of contactless and mobile banking, will it survive another half a century? |
| 1:06.8 | All that and plenty more coming up and don't forget, you can stay up to date with all the latest breaking money news. |
| 1:11.4 | Just go to this ismoney.co.uk or download the mobile app. |
| 1:15.8 | But first, our interest rates finally about to go up. |
| 1:20.1 | The pound jumped nearly 1% after the governor of the Bank of England suggested they could rise if business investment grows. |
| 1:27.0 | As despite evidence to suggest, inflation is starting to impact how much we're going out and spending. |
| 1:33.0 | Capital overhang looks set to be eliminated over the course of the next few years. |
| 1:37.0 | So if companies want to expand, they're going to need to invest, particularly in the tightening labor market. |
| 1:42.1 | The strengthening global economy should tempt them to do so, |
| 1:45.4 | particularly since UK company generally competitive, given the fallen sterling. We have a broad-based |
| 1:50.9 | recovery. Our estimate is more than three-quarters of the global economy is growing above potential, |
| 1:56.2 | and we're seeing the circumstances in place for some rotation from consumption to investment, or at least |
| 2:02.1 | the indicators. And if those stronger investment intentions are realized globally, there is the |
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