EddScott

Guess they mean business.

Scooby Snacks 23

Just announced, dropped to 3%

EddScott

I was first dammit!!

hail-hail

Yup, a whole 1.5% drop. weeeeeee heeeeee lets go shopping

TelBoy

Unprecedented. You might never see that again. All-time low in the UK is 2% if you're interested.

lozgti

Seems to reinforce the my feeling that we are up that creek

Scooby Snacks 23

Great minds think a like

Scooby Snacks 23

Couldn't agree more - they obviously think it's gonna get much worse that we do!!

EddScott

Think we all need to learn what this means.

Deflation - Wikipedia, the free encyclopedia

FlightMan

Agree.

Deflation anyone?

fivetide

iTrader: (1)

Arsebiscuits. wish i had a tracker mortgage like i told the blinking IFA!!!!

5t.

Cocker

iTrader: (3)

My mortgage will go down approx £210 per month (plus the £70 it went down last month)

Fantom

Woo hoo!!!!
I'm not on a tracker but my mortgage did come down 0.3% after the last drop. Hope it goes down another 1% now!!!
WOOOOOO

Matteeboy

Oh bugger. That'll be inflation well above interest rates = savings being eroded.
Punish the careful, reward the reckless. Brilliant.

Fantom

Surely the majority of people are better off though? You save a lot more on your mortgage rate going down than you get on your savings.
Thats gotta be the case for most people?

53

iTrader: (41)

Schweet !!!

J4CKO

iTrader: (1)

I am not pleased, savings and no mortgage, crap for me.

EddScott

Anyone looked at the FTSE. It doesn't like it by the looks of it.

I would not be surprised if this causes a panic and has the exact opposite effect.

Interest rates will continue to be cut to 0% then into deflation.

Deflation is very hard to get out from and could increase in pace.

We have Great Depression MK2.

Matteeboy

Same here.

dpb

So a few of us ( including penshioners who have saved all their lives)

have to suffer to kick-start a wilting economy bought on by reckless lending

Thanks once again Gordan

fast bloke

Didn't see that coming at all - I was talking to an L&G boffin at the start of last month. He predicted 0.5% in October, then down to 2.5 by Jan/Feb, falling to 1 by the middle of next year. I laughed quite a bit when he told me. Then I laughed some more. Must give him a shout and see what next weeks lottery numbers will be

p.s. - Massive tracker mortgage and bugger all savings....... schweet

Bummer is that I haven't bought any dollars yet for going to the states next month - could one of you nice saver people lend me a grand? Its not like it is doing anything in the bank anyway

fatherpierre

Nothing like a bit of blind selfishness.

Gear Head

iTrader: (2)

Surely for those who have savings linked to investments, the cut is a good thing?

dpb

Your bloody right - id like to kick every mortgage advisors **** hard from here to timbuktoo

ditchmyster

iTrader: (7)

yep me tooooooo yippeee that was a very smart move on my part to get a tracker about a year ago

TelBoy

ECB stick two fingers up to it - 50 only. Go on Trichet, mention inflation in your press conference, i dare you

Matteeboy

Also in the "not impressed" camp.
Bankers get rewarded for messing up, reckless housebuyers and loan junkies get a leg up after years of being daft.

scoobynutta555

I also got a tracker a few months ago (no fees, low rate). With all the talk lately of rate decreases anyone taking out a fixed rate recently must be

fast bloke

Come ahead if you think you are hard enough . (I haven't recommended a fixed rate to anyone since the start of the credit crunch in August 2007. A few clients have insisted though )