Sunday, January 4, 2009
I think it’s called “winging it”.
The Bank of England is poised to drop interest rates, already just 2 per cent, to the lowest level in its 315-year history later this week at the next meeting of the Monetary Policy Committee (MPC). It will leave millions of savers with accounts which already pay interest of 1 per cent or less facing zero per cent interest. For the first time Mr Brown admitted savers would need to be helped. He said: "We are looking at means by which we can help pensioners and others with their savings and that is one of the things that we'll look at in the run up to the Budget and I'm very conscious that people have saved money all their lives, need the best deal that is possible."