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Bank of England - Rates down to 3%
Comments
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Wow, historic cut, unbelievable, things must be far worse than we thought, i suppose
This might be worth keeping an eye on in the coming days/weeks as it factors in more likely rate cuts, with the possible knock-on effect of that on inflation
(see the dip at mid-day)
Pound Sterling - United States Dollar
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alchemistkevin wrote: »
Look at that
That's what we need
Don't count your chickens just yet!
FTSE now down 140 on the day0 -
Sorry I am still confused, is there such a thing as a fixed rate savings account with instant acccess or access within a month that I can fix in to today to get a good rate?
No..... unless its a month fixed, but they don't exist.
If you want a fixed rate you have to tie up your money for a long period (3 months, 6 months etc.)0 -
Ok so I would have to look at bonds then?Pawpurrs x
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Me thinks this rate cut has the heavy hand of HMG all over it.
No doubt the Chancellor would like this opportunity to issue Gilts at much reduced interest rates.......0 -
Ok so I would have to look at bonds then?
Pawpurrs,
The Halifax is offering 7% fixed for 3 months from when you open it - but I'd grab it quick if you are interested - I bet it will disappear pretty soon.....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 -
Ok so I would have to look at bonds then?
Its really upto you. What I tend to do is tie up some of my money in fixed term savings and some in instant access. The instant access stuff is on a crappier rate but its what I use if I need it in an emergency.
Example: £1700 in Instant Access (4.75% soon to be dropped I imagine), £1300 in 3 months fixed (at 7%)0 -
Halifax have a 12 month fixed at 5% with up to 4 withdrawals. I might go for one of those....0
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It'll probably make premium bonds look far more attractive now.2012 Mortgage Free Wannabe # 69Opening mortgage £126,000 19/05/00Ended 2011 £31,019:j£0.00 07/12/2012 :jNever put socks in a toaster.0
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