Will a world of rising interest rates make you richer?

Interest rates are going to rise in May, if you believe economists, but will things get better or worse for you if they do? A few years ago, Mark Carney told us to enjoy the low inflation world while it lasted, but now wages are forecast to rise and keep inflation sticky, so interest rates are potentially going to inch up. Rising rates are often painted as bad news but for many a world in which they go up will look more enjoyable. What would be even more pleasurable is being paid more, so is Britain really finally about to break out of its low wage growth trap and get a pay rise? On this week’s podcast, Simon Lambert, Rachel Rickard Straus discuss why we don’t get paid enough, what we can do about it and how to look on the bright side of rising interest rates. Contrasting news on the struggles of first-time buyers, at the same time as they are at their highest level for a decade, is also on the agenda. Plus, there is good financial news for unmarried couples, the new car tax madness that is about to bite and the energy saving myths that apparently mean you shouldn’t turn the heating up to make your home warm up quickly.

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