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#279804 - 3rd Jan 2009 2:56pm Savers facing accounts with no interest
_jase_
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Millions of savers are braced for zero per cent accounts within days as the Bank of England is poised to cut interest rates to the lowest level in its 315-year history.

Experts have warned the return on savings could plumb new depths with the Bank expected to take unprecedented steps to regain control over the economy.

They widely believe the Bank will reduce borrowing costs to below their 2 per cent level - and possibly all the way down to 1 per cent - in its first meeting of the year next week.

More than 7 million people have saving accounts which already pay interest of 1 per cent or less. If a cut is passed on in full by banks, these accounts will dive towards negative territory for the first time on record.


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#279816 - 3rd Jan 2009 3:21pm Re: Savers facing accounts with no interest [Re: ]
Wheels Offline
Wiki Veteran

Registered: 4th Jan 2005
Posts: 8795
Loc: Tranmere
noooo! i have saved 55 quid so far

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#279821 - 3rd Jan 2009 3:40pm Re: Savers facing accounts with no interest [Re: Wheels]
derekdwc Online   content


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Registered: 13th Oct 2008
Posts: 4962
Loc: Birkenhead
won't bother me
I've got my millions in same Icelandic banks as wirral Borough Council

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#279904 - 3rd Jan 2009 8:00pm Re: Savers facing accounts with no interest [Re: Wheels]
_jase_
Unregistered


Originally Posted By: Wheels
noooo! i have saved 55 quid so far


more than me mate lol smile

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#279905 - 3rd Jan 2009 8:03pm Re: Savers facing accounts with no interest [Re: ]
Mondeo_Scott Offline
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Registered: 14th Aug 2006
Posts: 2875
Loc: Wirral
Originally Posted By: _jase_
Originally Posted By: Wheels
noooo! i have saved 55 quid so far


more than me mate lol smile


raftl

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#279908 - 3rd Jan 2009 8:07pm Re: Savers facing accounts with no interest [Re: Mondeo_Scott]
Davey_Martin Offline
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Registered: 17th Jul 2007
Posts: 2888
Loc: New Ferry
meh

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