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

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  • gelato_cat
    gelato_cat Posts: 2,970 Ambassador
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Blimey, I did miss that! Thanks for the explanation! (Long time no speak, BTW!)

    It also looks like ML is considering diversifying (or, for any cynical bods among us, selling out)...

    http://forums.moneysavingexpert.com/showthread.html?t=1233787

    I like your idea about the discount, seeing as we're helping them to sell the papers :beer:

    Suze

    Sunday Times have been private messaging posters asking for their views on different savings topics, those messages appeared to start following the announcement that Nationwide were taking over Derbyshire and Cheshire BS, it appears that The Times have now done a deal.gif with :money: and now have :money: seal of approval to seek posters comments.

    How about The Times make those of us who are interested a discounted prepaid subscription offer of its Monday-Sunday paper editions @1.00 a week like it used to do when it was battling hard against The Telegraph. :think:
    I’m a Forum Ambassador and I support the Forum Team on the Savings & Investments, Small Biz MoneySaving and House Buying, Renting & Selling boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the Report button, or by e-mailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • Suzey wrote: »
    (Long time no speak, BTW!)

    Suze


    Hope that you are keeping wealthy. ;)
  • gelato_cat
    gelato_cat Posts: 2,970 Ambassador
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Thanks, and the same to you! I'm OK, trying to find a home for my Icesave money as all the good rates seem to be with Halifax but I need to spread it about a bit.

    Suze

    Hope that you are keeping wealthy. ;)
    I’m a Forum Ambassador and I support the Forum Team on the Savings & Investments, Small Biz MoneySaving and House Buying, Renting & Selling boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the Report button, or by e-mailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • thor
    thor Posts: 5,506 Forumite
    Part of the Furniture 1,000 Posts
    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
    We have had a boe rate cut of 1.5 %. If the LIBOR does come down only 1% which cut will the banks choose to make? Like most people I expect savings rates to be cut by 1.5%(or more) while mortgage rates will be reduced by 1.5% or less. This is what gets the majority riled so much.
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