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Bruce Banner

So much for rates rising.

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Leeds Building Society have sent me an email saying they are reducing the interest on my e-saver from 1% to 0.6%.

I can still get 1% elsewhere so bye-bye LBS. It's a relatively small sum and moving the money is probably more hassle than it's worth, but it must be done on principle.

 

 

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Would you not consider putting it into the stock market or save via a pension or lifetime ISA with the additional government contributions on them they can be a good choice of course do your own research

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27 minutes ago, Bruce Banner said:

Leeds Building Society have sent me an email saying they are reducing the interest on my e-saver from 1% to 0.6%.

I can still get 1% elsewhere so bye-bye LBS. It's a relatively small sum and moving the money is probably more hassle than it's worth, but it must be done on principle.

 

 

We should be relieved that it hasn't switched to negative rates for savings...that cant be too far off.

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All done, new account opened, instant access, at better than the current 1% LBS rate, let alone their new one, and money transferred.

The moral of the thread is.... If they reduce your rate, move the money for a better rate.... they'll get the picture sooner or later.

Edited by Bruce Banner

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Do you think they will Bruce?...I do the same as you, but the impression I get is that they really couldn't give a toss...very much like the large (and some small) retailers...we need a real recession so that they are reminded who pays their wages/dividends!

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All this loose talk about rate rises in a world of rational expectations and infinite foresight is downright irresponsible.

Scott Sumner, a Bentley University economics professor, explains how a rate rise in 2015 might have brought about the Great Recession... in 2008!

Quote

At first glance my hypothesis seems absurd for many reasons, primarily because effect is not suppose to precede cause. So let me change the wording slightly, and suggest that expectations of this 2015 rate increase caused the Great Recession. Still seems like a long shot, but it's actually far more plausible than you imagine (and indeed is consistent with mainstream macro theory.) I'll build up my argument in several steps:

http://econlog.econlib.org/archives/2014/03/did_the_rate_in.html

scumbag-doc-brown-90761.png

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Gd, couldn't agree more, and it's everyones taxes/money the Govt is using (read `giving` to the banks/their shareholders) to do it...the same money that could help the services we have to pay taxes for...as The Count has pointed out on other threads, they are literally stealing our money and we are letting them do it!

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  • 293 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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