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Author Topic: Bank holds interest rates  (Read 1471 times)

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phil7853

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Bank holds interest rates
« on: Apr 10, 2009, 13:02 »
Most people think that the B of E will keep interest rates on hold for the rest of the year ?
Will this be a good thing for all the people with saving's ?

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Offline Durham Forum

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Re: Bank holds interest rates
« Reply #1 on: Apr 10, 2009, 13:15 »
Quote from: phil7853 on Apr 10, 2009, 13:02
Most people think that the B of E will keep interest rates on hold for the rest of the year ?
Will this be a good thing for all the people with saving's ?

Nope. Savings rates are very poor at the moment.

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Offline Victoria Sponge

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Re: Bank holds interest rates
« Reply #2 on: Apr 10, 2009, 13:15 »
we've got no savings just a tracker mortgage linked to the base rate - hence the reduction in the interest rate is saving me £200/month........unfortunately the value on the endowment has also nose dived and lost loads during the same period so I'm no longer in a position to pay off the house when the policies mature next year

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Offline Credo

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Re: Bank holds interest rates
« Reply #3 on: Apr 10, 2009, 15:54 »
The drop in savings rates is paying havoc with my parents paying for their residential care They were able  to pay it using they joint pensions and income from savings Now they are having to eat into those savings to pay the costs.
This is a disgusting situation a couple who have worked all their lives having to beak into savings to pay for care, when in the next room you could have someone who has never saved a penny is getting the care free and gets £25 a week pocket money.

Makes my blood boil. :evil:

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Klendathu

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Re: Bank holds interest rates
« Reply #4 on: Apr 10, 2009, 20:22 »
Why can't they just stop pi$$ing around with it!  It confuses me to bloody hell!  That and irrespective of the interest rate I get shafted for my mortgage, because it is a fixed rate.  Humph!

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Offline SouthernExPat

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Re: Bank holds interest rates
« Reply #5 on: Apr 14, 2009, 09:42 »
What really annoys me, is that the Government have bailed the Bank's out with billion of pounds, and instead of them making it available to us (the people who's money it is!) they are withholding it!

They are still at their old ways...and they deserve all they get!

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