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PANNNICCCC will save us all
Tim_L
Posts: 3,827 Forumite
Actually it will.
We're seeing a massive outflow of funds from top rated savings accounts into a spread of "safe" (i.e. poorly performing) accounts, with cash spread round to mitigate risk.
This is going to create a lot of liquidity with the UK banks and they'll be able to do pretty much what they want with interest rates. As the basis for ongoing business it's pretty much ideal.
Interesting times.
We're seeing a massive outflow of funds from top rated savings accounts into a spread of "safe" (i.e. poorly performing) accounts, with cash spread round to mitigate risk.
This is going to create a lot of liquidity with the UK banks and they'll be able to do pretty much what they want with interest rates. As the basis for ongoing business it's pretty much ideal.
Interesting times.
0
Comments
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Sorry but I don't see that at all. Where savers put their savings has very little to do with anything/ As long as there is uncertainty, fear and a lack of confidence nothing has changed. Savers punting their money around isn't going to change that. If the amount of money savers had to save had just increased 10 fold, and they were spreading that around, then maybe I'd agree, but it hasn't.
The problem remains that confidence is absent from the system.Hope for the best.....Plan for the worst!
"Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown0
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