BoE will decide new interest rate tomorrow. Any thoughts??

Milarky

It's been reported in the press that a 0.5% reduction is expected. In other words, they've already decided and are letting it get out so as not to 'spook' the market (which will probably still take the news 'badly', anyway, since a 0.5% base rate says it all about the credibility of current monetary policy and stewardship of the economy)

nzseries1

f_@_w_y wrote: »

if that rate go down to 0%, is it good idea to put money in UK banks....

As opposed to....?

Masomnia

f_@_w_y wrote: »

...if that rate go down to 0%, is it good idea to put money in UK banks....

Probably. The base rate is 1% now but you can still instant access at 3 - 4% and fix in for higher. Even if the base rate is 0% it doesn't mean that savings rates will be 0%.

I mean, are we just putting money for the sake of security??

Seems as good an argument as any! Is your money safer anywhere else?