Interest rate decision divides Bank of England - what does it tell us about the economy?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 8 August 2025
⏱️ 44 minutes
🧾️ Download transcript
Summary
Georgie Frost, Lee Boyce and Helen Crane ask what the division in the Monetary Policy Committee tells us about the state of the economy right now, and what the cut means for our money.
We also talk about plans to hit those in wealthier areas with bigger council tax bills. Why is the current system so unequal, and how could your area be affected?
Helen discusses a water company who told an elderly couple they needed their pipework replacing at a cost of thousands - when in reality, all they needed was a new water meter (which is given away for free).
Finally, Lee explains who can claim from the car finance scandal - and what to do if you can't find the paperwork.
Transcript
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| 0:00.0 | Welcome to This Is Money podcast, sponsored by Charles Stanley Direct. |
| 0:06.0 | I'm Georgie Frost and joining me and Lee Boyce today is Helen Crane. |
| 0:10.0 | And coming up, the Bank of England has cut interest rates again, but this time the decision wasn't straightforward. |
| 0:16.0 | What does the division in the MPC tell us about the state of the economy right now? |
| 0:22.7 | And what does the cut mean for your money? |
| 0:28.7 | Also today, plans to hit those in wealthier areas with bigger council tax bills will you be affected. |
| 0:35.7 | Crane is back on the case, this time helping an elderly couple get money back from their water company for ruining their garden. |
| 0:40.7 | And Lee will help you work out if you can claim from the car finance scandal. |
| 0:43.3 | And what to do if you can't find the paperwork? |
| 0:44.5 | Don't forget you to stay up to date. |
| 0:50.0 | With all the latest breaking money news, just go to this ismoney.co.uk or download the app. Take control of your finances with Charles Stanley Direct, invest, save, coach or plan |
| 0:58.0 | using technology where it's helpful and people where it matters. |
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| 1:22.5 | Investment involves risk. |
| 1:23.8 | But first, it was no great surprise that interest rates were cut this week. What caught people |
| 1:29.0 | off guard was the indecision around the vote for the first time in its history. The bank's |
| 1:35.0 | monetary policy committee was so split that it had to vote twice. One member even backed a bigger |
| 1:41.6 | cut before switching sides in the second round. In the end, a narrow |
| 1:45.3 | 5-4 majority brought the base rate down from 4.25% to 4%. So, what does this mean for our money, |
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