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Hello and welcome to Coffee How Shots, Suspectators, Daily Politics Podcast.

I'm Katie Balls, and I'm joined by Fraser Nelson at ISPA Hardman.

Over the weekend, the Prime Minister gave an interview to the BBC,

where he discussed the government's approach to trying to bring down an inflation

and suggested it was time to hold the nerve over rising interest rates.

Fraser, since then, this phrase has been thrown back at the Prime Minister quite regularly.

Lots of people saying you shouldn't be telling mortgage holders to hold the nerve,

saying it doesn't tally with or jars at least for the experienced lots of people facing.

What did you make of the comment?

Well, what number 10 says he intended to say was that he wants to hold his nerve,

but the government wants to stick to its plan.

This is quite important here, because it might not be picked up by your average punter,

but number 10 is going through a phase right now, where it realizes things going very wrong

on the economic front.

So Nick, as I understand, personally believes now he's going to miss his inflation target

of having it throughout the course of the year.

That hasn't become apparent yet, but when it does,

people are going to say to him, why did you change your plan?

...