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Interest rates may rise this year

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Comments

  • evenasus
    evenasus Posts: 11,864 Forumite
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    We live in hope.
  • SG27
    SG27 Posts: 2,773 Forumite
    Too late?...
  • Hi,

    whoopee :j :j, bump them up, maybe get a decent return on my savings, we've had it hard for years.
  • ColdIron
    ColdIron Posts: 9,544 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    BoE rate drops in 2009 didn't hit deposit rates nearly as hard as the Funding For Lending Scheme did in 2012. I don't expect any real movement in savings rates until FLS ends
  • This time next year the rates will back up to 5% ,once they climb ,they climb .
    So its happy days for savers !
  • Happy days for savers, bad news for the other 90% of the population
  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    Happy days for savers, bad news for the other 90% of the population
    Maybe the other 90% should not be so !!!!less then.
  • talexuser
    talexuser Posts: 3,503 Forumite
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    Surely with insignificant growth in exports compared to balancing the economy or any reduction/actual increase in the debt, bank rate of 5% next year will push us into large swathes of negative equity if not another recession? I think normal levels of interest rate are a while away yet, and they are talking about a 0.25 rise maybe.

    QE unwinding remains the elephant in the room that could still cause a large drop in markets. Surely the only thing to bump up rates fast would be a disastrous run on the pound?
  • Stompa
    Stompa Posts: 8,348 Forumite
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    Happy days for savers, bad news for the other 90% of the population
    Savers vastly outnumber borrowers though.
    Stompa
  • chucknorris
    chucknorris Posts: 10,793 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Happy days for savers, bad news for the other 90% of the population



    I wouldn't exactly say it is 'bad news' even though I am about £29k a year better off with rates now compared to where they were, it has been a great run that has lasted over 5 years and still counting. Even when they go up they will creep up and perhaps not quite get up to where they were in 2008, giving a few more years of comparatively low rates, so I think it is a bit strong to call it 'bad news', especially when it indicates a recovering economy.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
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