Informed Choice Radio - financial peace of mind with Martin Bamford

In this episode of Informed Choice Radio, Martin talks about the Bank of England cutting interest rates and what it means for your personal finances.

There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.

They've only gone & cut interest rates!

UK interest rates have been cut from 0.5% to 0.25%. This is a new record low for interest rates in the UK and the first rate cut since 2009.

Announcing the rate cut, which was a unanimous decision, the Monetary Policy Committee at the Bank of England also signalled that interest rates could go lower still if the British economy worsens.

The Bank announced extra measures to stimulate UK economic growth. This included a £100bn scheme forcing banks to pass on the low interest rate to households and businesses. There will also be an extension to the Bank’s programme of quantitative easing, buying £60bn of UK government bonds and £10bn of corporate bonds.

What does this interest rate cut and extra QE mean for your mortgage payments, cash savings, retirement planning or investment portfolio?

In this episode, Martin shares the views of a range of personal finance experts to help you figure it out.

Personal finance news update

-Home ownership is falling in England, with the sharpest falls recorded in large cities.

-One of the fund managers who penalised investors withdrawing money from their commercial property fund following the referendum result has eased restrictions for investors.

-A deadline for making claims for payment protection insurance mis-selling could be introduced.

-The state pension ‘triple lock’ could have a limited shelf life, with two former pensions ministers disagreeing about its future.

-The world’s first ever “masala” or rupee-denominated bond issued outside of India by an Indian company was listed on the London Stock Exchange earlier this week.

Get answers to your personal finance questions

Do you have a personal finance or investing question for Martin?

Email martin@icfp.co.uk or ask on Twitter @martinbamford.

You can call our dedicated podcast voicemail line on 020 8144 2745 with your question or visit www.speakpipe.com/InformedChoicePodcast to leave an online voicemail.

Help us spread the word!

Thank you for listening to this episode of Informed Choice Radio. Please email martin@icfp.co.uk with any feedback you have.

If you enjoyed this episode, please share it with a friend or on social media.

If you enjoy the show, please subscribe in iTunes and write us a review! Reviews really help us stand out from the crowd and reach more listeners.

 

Direct download: ICR102-ICR102.mp3
Category:investing -- posted at: 2:00am UTC