Bank of England Base Rate Reduction - What About the Savers?
There has been a lot of talk about the big winners when interest rates fall - i.e. borrowers. But what about people who rely on a reasonable amount of interest on their deposit accounts - the savers? Falling interest rates are a nightmare for savers, and with the Bank of England (BOE) dropping rates further, what options do you have if you are a saver?
There has been a lot of talk about the big winners when interest rates fall - i.e. borrowers. But what about people who rely on a reasonable amount of interest on their deposit accounts - the savers?
Lower Interest Rates - What Do They Mean to You?
The fact that the Bank of England (BOE) has slashed interest rates by 1.5% to 3%, I think shows how worried they are about the British economy. In a Bloomberg survey of 60 economists, nobody had predicted such a large cut in one go. You would be forgiven for wondering what the reasoning behind this decision is when inflation has reached over 5%, and the BoE are supposed to target 2%.
The fact that the Bank of England (BOE) has slashed interest rates by 1.5% to 3%, I think shows how worried they are about the British economy.
Rising Inflation Prevents Cut In Interest rates
The Bank of England will be more able to reduce interest rates once the “spike” of inflation has passed, it has been claimed.
It is claimed that once the “spike” of inflation has past the Bank of England will be better placed to cut interest rates. A Council of Mortgage Lenders spokesperson stated that the MPC (monetary policy committee), are unable to reduce interest rates, because inflation is too high.
Rising Inflation Prevents Cut In Interest rates
The Bank of England will be more able to reduce interest rates once the “spike” of inflation has passed, it has been claimed.
It is claimed that once the “spike” of inflation has past the Bank of England will be better placed to cut interest rates. A Council of Mortgage Lenders spokesperson stated that the MPC (monetary policy committee), are unable to reduce interest rates, because inflation is too high.
Affordability in the UK property makret
An article concerning the present condition of the UK property market and the impact of current house prices on those trying to move up the property ladder. Includes actual examples of house prices in the East of England
Deal of the day
