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Savers facing accounts with no interest #279804
3rd Jan 2009 2:56pm
3rd Jan 2009 2:56pm

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_jase_ OP
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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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Re: Savers facing accounts with no interest [Re: ] #279816
3rd Jan 2009 3:21pm
3rd Jan 2009 3:21pm
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Tranmere
Wheels Offline
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Wheels  Offline
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noooo! i have saved 55 quid so far

Re: Savers facing accounts with no interest [Re: Wheels] #279821
3rd Jan 2009 3:40pm
3rd Jan 2009 3:40pm
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Birkenhead
derekdwc Online content
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derekdwc  Online Content
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won't bother me
I've got my millions in same Icelandic banks as wirral Borough Council

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

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_jase_ OP
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Originally Posted by Wheels
noooo! i have saved 55 quid so far


more than me mate lol smile

Re: Savers facing accounts with no interest [Re: ] #279905
3rd Jan 2009 8:03pm
3rd Jan 2009 8:03pm
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Mondeo_Scott  Offline
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Originally Posted by _jase_
Originally Posted by Wheels
noooo! i have saved 55 quid so far


more than me mate lol smile


raftl

Re: Savers facing accounts with no interest [Re: Mondeo_Scott] #279908
3rd Jan 2009 8:07pm
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