Transcribe your podcast
[00:00:00]

We've just got the latest inflation figures, and they've come in at 4%, which means the average prices are 4% higher in January this year than they were last year. What's interesting about this is it's a bit lower than experts were predicting. It's the same as last month. We were expecting another month of a rise in inflation, which would have been bad news for the Bank of England and bad news for the cost of borrowing. But this is good news. It's only a slight change at 4%, but it does bode well for interest rates and means that the Bank of England can breathe a little bit easier looking the next few months and when might be the right time to cut rates. It's good news in that sense. I'm going to be looking into the details of what were the drivers of the price rises. The other thing to remember with inflation is that prices are still going up. Even if inflation is coming down and that's a benefit for the Bank of England, whose target is 2%, prices are still overall going up and the cost of living is still really squeezing people. Okay.

[00:00:52]

Does that mean we are technically not in... What's the phraseology that the conservative Party wanted to use? Technically not in a recession or technically just in a recession. We won't know until tomorrow.

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Yes, we'll know tomorrow. That'll mean if we're in two consecutive quarters of negative growth, then we're technically in a recession. When we get the GDP figures, tomorrow we'll be able to tell. But that's...

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There's a lot of figures coming our way, aren't there?

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I know. It's a big.