The most important price in the world

Understanding how interest rates work is a crucial part of investing, says Phil Oakley. Here, he explains the various types of interest rate, and which is the most important for you.

Is it the price of gold? The price of oil? The price people have to pay for water?

These are all important prices. But none of them matter as much as one key price the price of money.

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.