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The rot spreads
Comments
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Glen_Clark wrote: »Yes, Santander's crafty 0.5% plus 2.7% bonus for a year has rather backfired on them this year
I hope that you are right. I am sure that their bonus is 'variable'0 -
Glen_Clark wrote: »Yes, Santander's crafty 0.5% plus 2.7% bonus for a year has rather backfired on them this year :rotfl:
What are you on about? They can change the bonus rate anytime they like, and if they had wanted to, they would already had done so. I just keep my head down and hope they won't.0 -
Yep! Just checked bonus variable Have to hope the fact they have 4 other accounts since on lower rates means they will not reduce bonus! I opened the Natwest esaver at 2.95% in October hope they don't reduce that as that is variable too!What are you on about? They can change the bonus rate anytime they like, and if they had wanted to, they would already had done so. I just keep my head down and hope they won't."Look after your pennies and your pounds will look after themselves"0 -
Post Office Online Saver is going from 3.17 to 2.67 during bonus period, as announced last week.
Pretty dire times
Just been online to my Post Office Online Saver 5 and see they are reducing as you said from 17th January 2013. But I have not received either an email or letter from them. Shouldn't they notify you of changes?"Look after your pennies and your pounds will look after themselves"0 -
Max Keiser :embarasse :shhh: keeps saying that the continuous low interest rates are catastrophic for the insurance industry as they cannot operate on such low rates. I wonder what will happen if insurance companies start going bust and whether they can exert any pressure on the BOE to raise rates?
Apparently every £1 the government gains from low interest payments to debt, it loses £2 from savers not investing. Why would they pursue a policy that is so financially destructive and incompetent.0 -
I wonder what will happen if insurance companies start going bust and whether they can exert any pressure on the BOE to raise rates?
Don't confuse interest rates and gilt rates. The BoE sets the former but the market sets the latter. However, the process of the market setting the prices of gilts is that the BoE has been buying like crazy as part of the QE process. Once QE stops, gilts yields should rise, and any knocks to our credit rating will help this as would (indirectly) raising interest rates.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Max Keiser Why would they pursue a policy that is so financially destructive and incompetent.
Because they think it will shrink the debt in real terms, hide from the public the fact that many banks are actually bust and refinance them over time with our tax money never to be fully repaid, and prevent a huge round of negative equity, large number of repossessions, and huge rise in unemployment?0 -
Brefinance them over time with our tax money never to be fully repaid
Never say never. Lloyds shares are less than 20% of HMG's holding price and NRAM's books are looking better as people remortgage elsewhere for better deals.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
typistretired wrote: »Just been online to my Post Office Online Saver 5 and see they are reducing as you said from 17th January 2013. But I have not received either an email or letter from them. Shouldn't they notify you of changes?
Yes they should, and when I asked them why they haven't, they told me they had. Apparently it was in the papers and it is on their website, and their T&Cs are backing them on that :-(0 -
Be careful what you wish for. If government borrowing costs go up, there'll be Greek-style catastrophic austerity and savings rates will be the least of our problems. Especially as we won't dare leave any money in the bank.gadgetmind wrote: »Once QE stops, gilts yields should rise, and any knocks to our credit rating will help this as would (indirectly) raising interest rates."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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