The former Bank of England Governor Mervyn King famously used Diego Maradona’s 'goal of the century' against England to explain monetary policy, explaining how central banks can steer the economy and influence interest rates without actually changing the official base rate. Sky’s Ed Conway breaks down why the Bank of England is leaning on the "Maradona Effect" today, why mortgage costs are rising anyway, and whether economic shocks caused by tensions in the Gulf and the ongoing AI tech sell off could force a sudden change. Read more: https://news.sky.com/story/money-live-consumer-personal-finance-tips-sky-news-latest-13040934 SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on X: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Why not listen to one of our podcasts? This is Why, available for free here: https://podfollow.com/thisiswhy or Ed Conway's Stuff Matters, available here: https://podfollow.com/stuff-matters To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales #economy #bank #maradona #ai