Nominal interest rates are not adjusted for inflation. They are typically expressed annually, such as 5%, 7%, or 10%, and represent the percentage of the loan amount or investment principal that must ...

Sure enough, inflation soared ... were one-offs or if there will be a new reason next year to explain why they were wrong.

In Radio 4 podcast Understand: The Economy, financial journalist Tim Harford and guests go back to basics to explain the terms we hear every day - from inflation to interest rates, from the stock ...