Thoughts on Bank of England Base Rate this year....

IAMIAM

How long will it remains as low as 0.1%

ACG

The government have told banks to get their systems ready this year for negative interest rates.
My mate is fairly high up in the IT department in a bank and he has said they are working on it, but not sure if they will have it ready before the end of the year. 

Rishi has said that he wants people to go out and spend money once the country opens up properly again, this is a way to get the economy going again. Negative interest rates are obviously a way of doing that, if people are not earning interest, they are more likely to spend. 

So there is a good possibility that the BoE base rate will drop. 
What impact that will have on mortgage rates though is another matter. 

dimbo61

Could be 15% this time next year.
Del boy told he heard it from Boris himself 

ACG

Wasnt sure if my mate was del boy (he probably more closely resembles trigger) so just gone and had a quick search on google and this was the first page to come up, which kind of backs up what my mate was saying. 

https://uk.style.yahoo.com/negative-interest-rates-uk-banks-preparing-natwest-atom-bank-070014979.html

Thrugelmir

No change in 2021. 

Windofchange

For what it's worth as a reasonably well read layman, I am anticipating very little change to interest rates for the year. As per the above, the government wants to stimulate spending. I suspect there will be a gradual lowering of interest rates on the high LTV products (90 / 95%) through the year, but where that will leave us in 12 months I'm not so sure - will depend on how much competition enters the market again, and therefore what downward pressure there is in retail rates.

Thrugelmir

I don't think that people yet fully appreciate the permanent damage that has been caused. Not going to a light switch moment either. Just a slow lifting of the fog.