Welcome to This Is Money podcast sponsored by Charles Stanley Direct.

I'm Georgie Frost and joining me and Simon Lambert today is Lee Boyce.

And coming up, it's that special time of year.

Yes, it's the This Is Money annual review episode.

The opportunity for Simon Lee to assess the last 12 months, and oh, what a 12 months it's been, and to look ahead to 2025.

We'll take a look at what's happened to interest, savings and mortgage rates, house prices and investments.

We've had changes of governments on both sides of the pond, so what will that mean for our money next year?

And what other big changes

can we expect? Don't forget to stay up to date with all the latest breaking money news. Just go to this ismoney.co.uk or download the app.

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Investment involves risk.

But first, down but not out.

Like a horrible, lingering cold, you think you've finally shaken off. Up it pops close to Christmas, threatening all your fun. Yes, it's inflation. This week we got news that the cost of living in November hit its highest level in eight months at 2.6% and remains above the Bank of England's target of 2%. It came therefore as, as no surprise that the following day, interest rates were held at 4.75%.

There was a thought last year that at one time, rates might see six cuts through 2024.

We didn't get that.

So what has the impact been on our money and what does 2025 hold in store?

Simon Lee, welcome Simon.

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