How high will interest rates go... and why are they still going up?

And there it was, another interest rate hike.Another quarter point move up seems almost commonplace now but cast your mind back to the era after the financial crisis and we had to wait nearly ten years for the base rate to climb above its 0.5 per cent 'emergency level'. It cut got first and then base rate got all the way to the heady heights of 0.75 per cent, before it was cut again when Covid hit.Yet, less than 18 months since the Bank of England started raising rates in December 2021, base rate has rocketed from 0.1 per cent to 4.5 per cent.The rate itself is relatively low in historic terms, the magnitude of the rise is not.So, are the Bank's ratesetters right to keep voting for hikes, has the full pain been felt yet, and why would you do this when all the forecasts suggest inflation is soon to nosedive?On this podcast, Georgie Frost, Tanya Jefferies and Simon Lambert discuss the latest rate rise and how high interest rates will go.Plus, is the return of the 100 per cent mortgage absolute madness, a helping hand for trapped renters, or something in the middle of all that?Why people should claim pension credit or help their friends or relatives who could.And finally, not only will it lack the crisp one-liners of Succession, but an inheritance drama is not something you want to get into, so how can people avoid one?Follow us on Instagram @dmgnewmedia.Follow us on TikTok @dmgnewmediaFollow us on X @dmgnewmediaEmail us [email protected] us  020 7938 6000.Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen CraneProducer: Georgie Frost Hosted on Acast. See acast.com/privacy for more information.