Rat and Mouse
Thu
06
Nov
Robert Peston on the rate cut that won't
I've just had a call from an astonished individual who has several hundred million pounds that he puts on deposit in various banks. As of 10 minutes ago, a leading British bank was offering to pay him almost 7% interest for his cash.

And if they're going to pay depositors this kind of interest, they're in no hurry to reduce rates for borrowers, whether individual or business... is the reasoning. (Got to say, though, I'm a bit annoyed with Robert for relaying what was supposed to be a private conversation.)

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