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Bank of England - Rates down to 3%
Comments
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so, where can i fix my savings now before they fall too?
http://www.moneyfacts.co.uk/savings/bestbuys/long-term-fixed-rate-bonds.aspx0 -
Wonder if banks will now cut their mortgage rates. I'm With HSBC. used to get a letter from them notifying the change but can't remember the last time I had one like that.0
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ScarletBea wrote: »There go my savings....
High prices, low savings rates
Yep, don't it make u laff how when inflation was low - i.e. 2% - they had to keep interest rates low "to keep inflation near the target".
Now that inflation is 5% & it's obvious to everyone they should be INCREASING rates - they cut them instead because otherwise inflation will be too low IN FUTURE.
lolol.
Funny how they couldn't give a t0ss about that several years ago, when they should clearly have been raising rates.
Let no-one be under any missasumption. They kept rates low to prolong the house boom & now they're frantically cutting them in a desparate attempt to avoid the bust that inevitably follows.
Foul, disgusting maneouvers from Gordon's puppet MPC. Anything to get him elected (I would say re-elected but of course no-one's ever actually voted for him).0 -
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So yet again those of us who are careful and prudent are 'punished'.
I am not going to be able to 'help the economy' by spending any more, 'cos I'm not going to get the interest on my savings to spend, and darned if I'm gonna break into my savings themselves. Mind you, if rates drop any more I'll probably be better off paying off my (fixed rate) mortgage instead of saving......The best advice you can give your children: "Take responsibility for your own actions...and always Read the Small Print!"
..."Mind yer a*se on the step!"
TTC with FI - RIP my 2 MC Angels - 3rd full ICSI starts May/June 2009 - BFP!!! Please let it be 'third time lucky'..... EDD 7th March 2010.0 -
I think this is a good decision. A very good and a very bold decision.
If this can't bring the economy out of recession nothing can.
All of us are holding on our car purchases, house purchases and that's only driving the economy down.
This will get us to spend our money which is the No. 1 priority right now.
Savings will have to go towards the stock market as investments and that will drive growth too.
I'm happy
will be happier if my lender decides to follow suit 0 -
This is what they want us to doFairyElephant wrote: »So yet again those of us who are careful and prudent are 'punished'.
I am not going to be able to 'help the economy' by spending any more, 'cos I'm not going to get the interest on my savings to spend, and darned if I'm gonna break into my savings themselves. Mind you, if rates drop any more I'll probably be better off paying off my (fixed rate) mortgage instead of saving...... Pay off our mortgages, have less debt and start spending/investing.
I'm careful and prudent and I applaud the drop. 0 -
Yep, don't it make u laff how when inflation was low - i.e. 2% - they had to keep interest rates low "to keep inflation near the target".
Now that inflation is 5% & it's obvious to everyone they should be INCREASING rates - they cut them instead because otherwise inflation will be too low IN FUTURE.
Exactly, the artificially low rates over the past few years, have encouraged more people to borrow way beyond their means (and we all know how exposed this left the banks, which then taxpayers ended up bailing out).0 -
Look at that That's what we need 0 -
alchemistkevin wrote: »I think this is a good decision. A very good and a very bold decision.
This will get us to spend our money which is the No. 1 priority right now.
I find it quite stunning that people believe that the only way out of a mess that was brought about ENTIRELY by easy credit & wanton spending - is to encourage easy credit & more wanton spending.
Truly amazing.alchemistkevin wrote: »If this can't bring the economy out of recession nothing can.
You said it.....0
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