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Bank of England - Rates down to 3%
Comments
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Earlier in the thread someone mentioned instant access fixed term savings. These in fact do exist! Crazy as they sound. I have no idea who currently offers them though.0
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Yup Egg did one, at 6.3% for a year, so they definitely do exist
“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Sods law! My savings are still wrapped up in Icesave, by the time i can get it back and put it elsewhere all the saving accounts available will be paying poop!
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MarathonMan1981 wrote: »Sods law! My savings are still wrapped up in Icesave, by the time i can get it back and put it elsewhere all the saving accounts available will be paying poop!
You are not alone, many of us who depend on our interest are in the 'same boat'!
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ICICI have the fixed interest account for 1 year at 6.75% with early access facility.I wanted to thankyou a million times but its a shame that I can press the button just once :T0
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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.
Inflation was only temporarily 5% and it was caused by a huge spike in oil prices. Study the graphs of oil in the last few years and you will see how severe this spike was, and how it has returned to its long term trend now. In a few months there is a very real chance of deflation, simply because some prices had overshot and are going through a correction of their own.
People are losing their jobs, businesses cannot get funds. This is getting very messy and is absolutely not the time to be raising interest rates to make it even worse. David Blanchflower was right months ago. If only the rest of the MPC had listened.0 -
Post 20 of this thread really is very amusing right now.0
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Errm, it's above 5% right now....
No, it was above 5% last month. The latest figures are to be released soon - I believe next week. They will show a slight fall, but nothing compared with the inevitable decline into next year, when year on year oil price decreases will be in the 50 - 60% region.0 -
No, it was above 5% last month. The latest figures are to be released soon - I believe next week. They will show a slight fall, but nothing compared with the inevitable decline into next year, when year on year oil price decreases will be in the 50 - 60% region.
Current: 5.2%
Next due: 18 Nov '080
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