Interest rates may rise this year

Stompa

http://www.bbc.co.uk/news/business-27825643

evenasus

We live in hope.

SG27

Too late?...

[Deleted User]

Hi,

whoopee :j :j, bump them up, maybe get a decent return on my savings, we've had it hard for years.

ColdIron

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

standinman2009

This time next year the rates will back up to 5% ,once they climb ,they climb .
So its happy days for savers !

Albert_Tatlock_2

Happy days for savers, bad news for the other 90% of the population

Bantex_2

Albert_Tatlock wrote: »

Happy days for savers, bad news for the other 90% of the population

Maybe the other 90% should not be so !!!!less then.

talexuser

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

Albert_Tatlock wrote: »

Happy days for savers, bad news for the other 90% of the population

Savers vastly outnumber borrowers though.

chucknorris

Albert_Tatlock wrote: »

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.