Rat and Mouse
Thu
08
Jan
Interest rates... almost zero

It's a 0.5% cut, bringing the base rate to 1.5%, its lowest since the Bank of England was founded in 1694. Sensible? I honestly can't see any way in which this works. It's like backing into a corner, using a manoeuvre that's been failing consistently for most of last year. The big question... where next?

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The amount of people this rate cut is going to benefit is so tiny. Those lucky enough to have a tracker mortgage will only benefit for a short while as when their deal runs out, they won't be able to get another one. I really feel for those approaching retirement where they do not have a mortgage but are saving every penny they earn for retirement. They will be getting such little revenue from it.

http://www.hipview.co.uk

Posted by Jenny at January 12, 2009 1:02 PM


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