MSE News: Base rate held at 0.5% 7 October 2010 at 12:06PM in Savings & investments 14 replies 2.2K views

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The Bank of England today announced it is holding the base rate at its 0.5% historic low for the 19th consecutive month ..."

Read the full story:
Base rate held at 0.5%

standinman2009

What about us poor folks who saved and werent borrowing we are still being penalised!!!!

opinions4u

standinman2009 wrote: »

What about us poor folks who saved and werent borrowing we are still being penalised!!!!

Simple.

Spend your savings so that they don't get eroded by inflation.

(I think that's what the Governer of the BofE has actually been quoted as saying, in the hope that you can prop up the economy).

blinko

standinman2009 wrote: »

What about us poor folks who saved and werent borrowing we are still being penalised!!!!

your getting 2.5% above the base rate, tahts fantastic !

standinman2009

some of us retired and live of a small pension and what was a substantial investment income so are just stupid im starting to think so gulp

lisyloo

Base rates don't affect investment income, only savings income.

If you are relying on savings income, then yes there has always been an inflation risk with that.
Are you too old to invest?

ViolaLass

standinman2009 wrote: »

What about us poor folks who saved and werent borrowing we are still being penalised!!!!

We get to sleep soundly at night and not worry about how we're going to pay the credit card bill this month.

blinko

your better off putting your shares in shell and getting 5 - 6% divi net 4.5 - 5.2% after tax and may even get growth they are up approx 10% this year

or infact you can get certain bond funds that pay you monthly approx yireld 4-5%

Loughton_Monkey

I'm just waiting for the inevitable day that the BOE announces a rise to 1%. I can't wait to see how those brain-dead, sensationalist, BBC guys will report it.

"BOE announcement set to double your mortgage payments.....
"Re-possessions expected to climb to record numbers.....
"House prices set to dive by up to 70%.....
"Unprecedented doubling of Interest Rates set to hit the poor most....
"We're all doomed.......

Cut to weeping single parent mother with £37,000 owing on credit card, explaining why BOE action will cause her to be homeless...

fullstop

Released yesterday, with hardly any comment , food price inflation hit a 15 Month high of 4% . Still the "experts" are still predicting it will soon fall back into line, they have been spinning that line for over a year now. Higher oil prices and higher energy bills predicted + VAT rising in January. What exactly is The BOE remit , concerning inflation ?

From what I can understand they have failed miserably.

vaporate

opinions4u wrote: »

Simple.

Spend your savings so that they don't get eroded by inflation.

(I think that's what the Governer of the BofE has actually been quoted as saying, in the hope that you can prop up the economy).

lol yeh right.

The toffs can spend their millions instead.