The rot spreads

innovate

VT82 wrote: »

I opened some random Newcastle BS Bobby Robson account (2.35%) and a Tesco account (2.40%) purely so I could set up some DDs for my Vantage accounts.

You haven't got your 'Bobby Robson' letter yet, then............mine came yesterday. Down to 2% from Feb 5. :-(

mulronie

innovate wrote: »

You haven't got your 'Bobby Robson' letter yet, then............mine came yesterday. Down to 2% from Feb 5. :-(

My Bobby letter came today !

And that's bad news on the Nottingham - inevitable I guess but just make sure you don't close the account until 30 June 2013.

I just hope those bean counters at a certain Spanish bank don't get any clever ideas...

typistretired

Coventry Building Society Online Saver (2) goes down from monthly interest of 3.11% to 2.72% gross p.a. from 1st February 2013. Not heard if my online saver (3) with them is going to be reduced yet. Anyone heard if Santander is reducing?

VT82

innovate wrote: »

You haven't got your 'Bobby Robson' letter yet, then............mine came yesterday. Down to 2% from Feb 5. :-(

I've got the 'Issue 2'. Is it that one?

On the plus side, the Tesco one I opened was 2.6%, not 2.4% (for now at least!).

talexuser

Next step loss of AAA rating and then 0.25% base rate, we ain't seen nothin' yet

ChiefGrasscutter

According to some economic theories this is when you get to the 'crack up boom' stage.
As savers realise there is no point in saving at all while those things they buy are increasing in price each day they go out en-mass and buy anything and everything while they still can.
The result is inflation goes hyper and the currency collapses on the international markets.

buffman

ChiefGrasscutter wrote: »

The result is inflation goes hyper and the currency collapses on the international markets.

Ironically over the last few days I have been thinking that during 2013 sterling may well depreciate though not necessarily for your reasons. With the Bank of England turning a blind eye to inflation, inflation will also be a more major feature this year. Having just received notifications of saving rate reductions by both Nottingham and Coventry, I was wondering whether now would be a good time to put some money in Euros and Dollars. Does anyone know of any good interest paying savings accounts in these currencies?

VT82

VT82 wrote: »

I've got the 'Issue 2'. Is it that one?

Never mind, the letter was waiting for me when I got home!

Looks like the £1 opening amount plus £1 DD test is all it's gonna get...

Glen_Clark

ChiefGrasscutter wrote: »

According to some economic theories this is when you get to the 'crack up boom' stage.
As savers realise there is no point in saving at all while those things they buy are increasing in price each day they go out en-mass and buy anything and everything while they still can.
The result is inflation goes hyper and the currency collapses on the international markets.

Government Theory is that savers will go out and spend which will get the economy moving again and create jobs.
The flaw in their argument is that most of the things they can buy are imported, so it will just make the trade deficit even worse - and leave them dependent on benefits when they have spent their savings..
So I think your scenario is more likely.

typistretired

Glen_Clark wrote: »

Government Theory is that savers will go out and spend which will get the economy moving again and create jobs.
The flaw in their argument is that most of the things they can buy are imported, so it will just make the trade deficit even worse - and leave them dependent on benefits when they have spent their savings..
So I think your scenario is more likely.

I tap into my savings each month to pay my bills so I can't see myself going out and spending it. I need my savings and any interest to keep my life style and be warm in winter.

Can't see Santander reducing their esaver 5 rate as the base rate is only 0.50 rest is bonus, unless the bank rate is reduced.