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BOE cut to o.5%
stevetodd
Posts: 1,016 Forumite
Its now 0.5%
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Comments
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another VICIOUS blow to savers.0
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Makes b*gger all difference to savers now - they might just as well have just gone straight to 0%.
Bank manager told me today that it's savers who are paying for banks recklessness.0 -
JonnyBravo wrote: »They better get spending then
what about the ones trying to build a deposit to get a new house...?:rolleyes:0 -
Inflation should be taking a nose dive in the coming months, in which case savers aren't doing too badly.
EDIT - except those who rely on income from savings,0 -
soon they wont be able to cut further... then we will get royally shafted.
Print some more money why dont we? :P0 -
I have no idea what good this is doing as the majority of trackers will have already bottomed out. Those that didn't have floors are surely in the very low % of mortgage holders.
Why go 0.5? Why not go the full hog and just make it 0%0 -
I wonder if it will have the same effect as the other rate cuts, the VAT cut etc.., i.e. nothing, Brown wants us to spend but these kinds of decisions make me tighten the purse strings even more, and I'm sure it's the same for millions of others, especially pensioners.
It's beneficial for a proportion of mortgage holders on trackers, however I would hazard a guess that many of these will be using the opportunity to pay down debt/mortgage, so not spending anymore.
Another act of futility by the BoE/government. The hole is very deep now, I wonder when they will stop digging, obviously not yet.0 -
We are now at 0.5%. Interest rates have been falling month on month. There ain't any green shoots, so what happens this time next month? Do we go to 0% ? Will QE have any effect? Personally, I am hiding under the duvet as I suspect alot of people are. We are now in unchartered territory, no map, no compass, just a naked emperor Brown.
We're dooomed I tell ya dooooooomed:p0 -
The rate cut isn't main story - its just the curtain raiser to the £75bn of quantitative easing they've announced with it.Adventure before Dementia!0
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