Case study request: savers upset about the 1.5% rate cut

Former_MSE_Natasha

Hiya all,

Roger at the Sunday Times would like to speak to anyone who's predominately a saver and is upset about yesterday's 1.5% base rate cut because they won't benefit and will probably end up losing out.

If you feel you fit the bill and are happy to talk to him, please make contact on 0207 782 5673 or email [EMAIL="roger.waite@sunday-times.co.uk"]roger.waite@sunday-times.co.uk[/EMAIL] asap.

Thanks,

Natasha

bristolleedsfan

Savers are more likely to be upset about the Libor rate falling 1% being as most of our high paying savings accounts have been due to the high LIBOR rate for the last 12 months or so rather than base rate movements.

http://www.independent.co.uk/news/business/news/key-bank-lending-rate-falls-by-1-999629.html

http://www.citywire.co.uk/personal/-/news/markets-companies-and-funds/content.aspx?ID=320275

agent_orange_2

I have savings and no mortgage, but I am happy to see interest rates falling.
I expect this reporter wants to get a story from someone whose "elderly, incapacitated parents will starve due to a cut in their income".

Reaper

Likewise I am in the happy position of having paid off my mortgage

Despite that I am not going to moan about interest rates going down either because it is more important to avoid recession.

Why don't journalists ask for a saver who has been affected rather than pre-selecting somebody who is unhappy? Obviously he has writen the article already and just wants to plug in a name to give the "human interest".

JayTee99_2

agent_orange wrote: »

I expect this reporter wants to get a story from someone whose "elderly, incapacitated parents will starve due to a cut in their income".

No, that really isn't fair,
there have been some (extremely) irate people on here voicing their opinion over the last 24 hours,

this is their opportunity to make their case to a wider audience!

not that i, personally, have very strong feelings either way, just surprised by the size of the cut.

Sapphire

I do feel very sorry for pensioners, particularly those who are trying to fund their retirement from the savings they have had to build up by scrimping and saving during their lives due to lack of proper provision by the government and employers. They deserve better. (I don't feel particularly sorry for those with massive amounts of money saved, though.)

It's especially galling when you see banks awarding themselves massive salaries and bonuses, and MPs voting in huge pensions for themselves, etc. :cool:

rebeccaj

MSE_Natasha wrote: »

because they won't benefit and will probably end up losing out.

no probably about it, they will lose out
:mad:

bristolleedsfan

JayTee99 wrote: »

just surprised by the size of the cut.

:think: You mean The Times are paying for the interviews,and that MSE are getting "the cut" or should this thread have been posted in "freebies". :rotfl:

maypole

Reaper wrote: »

Likewise I am in the happy position of having paid off my mortgage

Despite that I am not going to moan about interest rates going down either because it is more important to avoid recession.

Why don't journalists ask for a saver who has been affected rather than pre-selecting somebody who is unhappy? Obviously he has writen the article already and just wants to plug in a name to give the "human interest".

I am fortunate enough to have savings and no mortgage and while the cut is harsh, I don't mind if it helps people retain their homes, by reducing their mortgage rate.

JayTee99_2

bristolleedsfan wrote: »

:think: You mean The Times are paying for the interviews,and that MSE are getting "the cut" or should this thread have been posted in "freebies". :rotfl:

HaHa, very funny blf , i was referring to the size of the rate cut,
nothing to do with backhanders, heaven forbid

but at least this guy went through the correct channels, requesting permission first, unlike that other 'noddy' earlier in t'week

amcluesent

>"elderly, incapacitated parents will starve due to a cut in their income".<

Clown will take a chance they'll be dead and gone by the election and can't vote. NHS cuts for care to the elderly will help shuffle away the grumblers.