Monday, January 12, 2009

Bank of England try to scare us into spending

Savings rates hit five year low

The rate of interest paid on instant access accounts from banks and building societies hit a five-year low in December at an average of just 0.81%. The figures, from the Bank of England, also show that interest on notice accounts slumped to the lowest level on record at an average 0.82%.

Posted by pedagog @ 08:56 PM (846 views)
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One thought on “Bank of England try to scare us into spending

  • it_is_going_with_a_bang says:

    Traditional savers will now start cutting back even more and will join the ranks of borrowers who won’t spend either – regardless of rate cuts offered to them.

    It won’t ‘make’ people spend on shares or property when both of those options will probably lose you money.
    It will however make people with savings they rely on very angry indeed – quite rightly so.

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