Bank of England Holds Interest Rate at 5%

Oblivion

I had hoped the rate might go up a quarter of a percent today, but I suppose we savers should consider ourselves fortunate that it remained at 5% considering the clammer from the business sector to have it reduced.

Dave.

Aegis

I'm pretty glad it stayed where it did. The FTSE's been in something of a freefall lately, and an increase in interest rates would have just messed up the markets even more.

chopperharris

The banks are needing to fill their books , the economy needs them to do exactly that , we need the economy perked...

The consensus , with those that run our economy , is that savings will help matters , it will stabilise the banks , which in turn will stabilise our pockets and homes.

Heres this for a thought , how about the government implementing that savings tax and inflation rates were to be tied.So if inflation is 5 percent , savings tax is 5 percent....dont tell me that wouldnt increase savings....a 15 percent reduction in saved tax....alternatively......it could just be a flat 5 percent savings tax regardless of inflation.

Same thought but differently applied.Even if they just set a maximum of 80 percent mortgages , but with a 5 percent savings rate only for the 20 percent deposit , then would this not be an idea worth its salt?

sorry if you dont follow , stonking migraine.