Interest Rates Fall to 1%
05 February 2009, 12:08 PM
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That is the idea, help people have more cash to spend to get the economy back on its feet. I can see your point to a degree, but to be fair the prudent are being rewarded. Currently there are fantastic deals around if you have the spare cash to take them. The reckless people are just about keeping their heads above water and cannot take advantage of these offers.
05 February 2009, 12:10 PM
#7
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Northern Rock will have to follow as I thought any bank that took handouts from the BoE had to pass on the interest rate cuts as part of the agreement.
That should mean my mortgage is 0.74%
Also for the savers there are still savings vehicles out there giving 6% so not as though your savings have to devalue.
That should mean my mortgage is 0.74%
Also for the savers there are still savings vehicles out there giving 6% so not as though your savings have to devalue.
Last edited by Bravo2zero_sps; 05 February 2009 at 12:18 PM.
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05 February 2009, 12:16 PM
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That's what would have thought, but look at the sharp rise as it was announced! 
BBC NEWS | Business | Market Data | Currencies | Sterling v Euro
BBC NEWS | Business | Market Data | Currencies | Sterling v Euro
05 February 2009, 12:22 PM
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That's what would have thought, but look at the sharp rise as it was announced!
BBC NEWS | Business | Market Data | Currencies | Sterling v Euro
BBC NEWS | Business | Market Data | Currencies | Sterling v Euro
I need a good exchange rate for the £ to Yen.
05 February 2009, 12:25 PM
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I think the pound has been undervalued, specifically against the Dollar and Euro.
We're seeing that undervalueing unwind a little now. But it's still a volatile situation.
We're seeing that undervalueing unwind a little now. But it's still a volatile situation.
05 February 2009, 12:25 PM
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05 February 2009, 12:30 PM
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Personally I don't have one as i'm not a saver but I know family have recently taken out new ones paying that or more.
Also a quick Google and Money Saving Expert comes up with regular savings account deals - i.e. where you pay in a certain amount every month.
Regular Savings Accounts: Earn up to 6% interest...
Also a quick Google and Money Saving Expert comes up with regular savings account deals - i.e. where you pay in a certain amount every month.
Regular Savings Accounts: Earn up to 6% interest...
05 February 2009, 12:43 PM
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... Also a quick Google and Money Saving Expert comes up with regular savings account deals - i.e. where you pay in a certain amount every month.
Regular Savings Accounts: Earn up to 6% interest...
Regular Savings Accounts: Earn up to 6% interest...
05 February 2009, 12:47 PM
#18
05 February 2009, 12:51 PM
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Ah, those accounts, true. But I think they're more for attracting new current account holders, with a very strict limit on the amount you can 'save' every month. If you've a chunk of cash you're lucky to get 3 1/2% (probably 3% by the time I've finished this), and if you're a 40% taxpayer you suddenly realise you're getting less than the real inflation rate.
05 February 2009, 01:11 PM
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All these cuts have made sod all difference to most peoples spending habits.
Apart from those daft enough not to be overpaying their mortgage if they receive the benefit of having a reduction.
Apart from those daft enough not to be overpaying their mortgage if they receive the benefit of having a reduction.
05 February 2009, 01:11 PM
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05 February 2009, 01:13 PM
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TBH I think this is more representative. Look at the T&C's for only 3.5% 
Look forward to a guaranteed return with our fixed rate bonds.
Up to 3.50% Gross/AER
This rate applies to our 3 year fixed rate bonds with interest paid annually. Minimum deposit of £50,000 required.
• No withdrawals, closures or additions can be made during the term of the bond.
So they expect average rates to be <3.5% for the next three years.
Look forward to a guaranteed return with our fixed rate bonds.
Up to 3.50% Gross/AER
This rate applies to our 3 year fixed rate bonds with interest paid annually. Minimum deposit of £50,000 required.
• No withdrawals, closures or additions can be made during the term of the bond.
So they expect average rates to be <3.5% for the next three years.
05 February 2009, 01:35 PM
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05 February 2009, 01:52 PM
#26
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LOL, post of the day IMO.
With banks offering such poor rates and the stock market at a low ebb, theres never been a better time to dip a toe into the world of stocks and shares.
Assuming your risk profile is up to it
With banks offering such poor rates and the stock market at a low ebb, theres never been a better time to dip a toe into the world of stocks and shares.
Assuming your risk profile is up to it
05 February 2009, 01:54 PM
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I'm hanging onto my savings like the annoying kid that saves his easter eggs for ages but won't give anyone else any.
Unless a good 335d comes up of course...
Unless a good 335d comes up of course...
05 February 2009, 02:10 PM
#28
Daft? I'm going to be looking at my mortgage, looks like I could be saving around £100-200 a month whilst consolidating my card too. be nice to have an extra £100-200 per month. Still have plenty of equity in the house to weather the storm too luckily.
05 February 2009, 02:10 PM
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05 February 2009, 02:12 PM
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>halleluja mode off< 
As long as the work keeps coming in I say leave the b-ankers to it
Bonus!!!D