In Rod We Trust: Brand, he's just not funny.
Talk Breakfast
Ricky Freelove
4.3 • 763 Ratings
🗓️ 21 September 2023
⏱️ 25 minutes
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Transcript
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| 0:00.0 | The home of common sense, talk radio and talk TV. |
| 0:04.7 | Welcome to the final hour of my mid-morning spectacular, the afternoon section, if you like 60 sizzling minutes still to go. |
| 0:13.5 | Really looking forward to talking to Sunday Times columnist Rod Little in just a little while. |
| 0:18.2 | We will cover a number of issues in his inimitable style. And also, |
| 0:24.2 | we're going to be going live to the Bank of England where Ashley Armstrong, the business editor |
| 0:29.2 | of the Sun, will keep us up to speed with the situation regarding interest rates. We're going to talk |
| 0:35.0 | about that in just a second as well. Most importantly of all, we'll be taking your calls about all of the issues and the news stories emerging today. |
| 0:43.8 | 03444491,000. Before we go to Rod, let's quickly talk to economist Justin Urquhart-Stewart Stewart. |
| 0:57.9 | Morning, Justin. Or it should say afternoon, of course, |
| 1:07.4 | by five minutes. So they have held the interest rate at 5.25%. It was widely expected to go up to 5.5%. But suddenly, at long last, over the past month, it seems to have emerged |
| 1:14.1 | that at last inflation is turning around and maybe plateauing and indeed going down. |
| 1:20.7 | So this is a good day, isn't it? |
| 1:23.3 | Well, in theory, this is better. But frankly, interest rates are still going up anyway. |
| 1:28.6 | Because you think interest rates have to go up, the effect of that hasn't fed through. |
| 1:31.9 | Look at all those people who are going to have to renegotiate their mortgages coming up. |
| 1:35.6 | Just because interest rates are now going to be flat, haven't gone up anymore. Does that mean |
| 1:38.9 | that their costs are going to stay the same? No, they'll be going up very dramatically. So I'm afraid inflation is still the cost is there. |
| 1:45.4 | And unfortunately, the only tool that the banking can have got to actually deal with inflation |
| 1:50.5 | is actually putting up interest rates. But it doesn't work like that if you're not dealing with |
| 1:55.6 | a consumer boom. This is not a consumer boom because humans feeling exactly the opposite. |
| 2:00.0 | It's the supply chain |
| 2:01.1 | issue. And they have this idea that somehow by giving the country a packet of emodium's extra |
... |
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