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Interest rates hit new all time lowThe Bank of England cut interest rates by 0.5% on Friday to 1.5%. This is the lowest the base rate has been in the 315 year history of the Bank. The rate cut, if effective, will possibly make borrowing and remortgages more affordable, but may spell bad news for savers. 2 Responses to “Interest rates hit new all time low”Leave a Reply |
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January 13th, 2009 at 5:31 pm
There will always be a balance between borrowers and savers. I was lucky enough to secure 10% ISA rate last year - I can’t see that happening again now.
January 16th, 2009 at 9:04 am
They are likely to go lower. I can’t see people looking to buy houses again until they hit the bottom, and house prices look like leveling out too.