"Mortgage lenders tend to price their variable rates off three-month Libor, which is also a key determinant in the cost of borrowing for businesses." This maybe why Birmingham Midshire(HBOS) are offering 6.97% AER on a fixed rate 3 month bond. Fill yer boots and protect your savings whilst you can. The pound may devalue but it will go along way in the property market in the near future.

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