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Author Topic: Interest rates down to 1.5%!  (Read 1946 times)

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Jimbob

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Interest rates down to 1.5%!
« on: 08 January 2009, 12:02:54 »
How much lower will they go?  Surely not much further!
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Entwood

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Re: Interest rates down to 1.5%!
« Reply #1 on: 08 January 2009, 12:06:58 »
Which means savers rates will drop again .. :(

I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(
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Mr Skrunts

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Re: Interest rates down to 1.5%!
« Reply #2 on: 08 January 2009, 12:07:44 »
Quote
How much lower will they go?  Surely not much further!

Savings rates soon to follow I suppose.

Yorkshire Building Sociiaity 3.75% gross  (was 6.5% not so long ago.)
Halifax   1.16% gross
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benbrunt

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Re: Interest rates down to 1.5%!
« Reply #3 on: 08 January 2009, 12:09:08 »
Yet they're already saying that mortgages won't be coming down any further. Damn you Northern Rock >:(
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Re: Interest rates down to 1.5%!
« Reply #4 on: 08 January 2009, 12:21:43 »
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How much lower will they go?  Surely not much further!

Yep .....the lowest since the Bank of England was founded in 1694.......good news for people with mortgages......if the greedy bastard banks pass it on......further bad news for savers......that's life. :y :y :y :y

Rates are 0.0% in the USA......it is possible that it could happen here........at times like these ...I'am glad that I don't have a pot to piss in (savings).....but do have a mortgage. :y :y :y
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Kevin Wood

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Re: Interest rates down to 1.5%!
« Reply #5 on: 08 January 2009, 12:30:01 »
I wonder what they believe there is to gain by reducing rates like this?

As said, it screws anyone with savings but doesn't get passed on to borrowers, so won't free up consumer spending (as if borrowed consumer spending isn't one of the reasons we're in this mess!).

The problem is that banks won't lend, not the cost of that lending.

Let's ignore the baseball bat that's been shoved through the spokes and keep trying to pump that damn tyre up!  >:(

Kevin
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Re: Interest rates down to 1.5%!
« Reply #6 on: 08 January 2009, 12:34:20 »
I've got a fixed rate anyway so it doesn't really affect me, but I bet as soon as my fixed rate comes to an end, the interest rates will be back to normal :(
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Markie

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Re: Interest rates down to 1.5%!
« Reply #7 on: 08 January 2009, 12:42:48 »
All good, Im on a tracker with no floor rate....

And rates will go down to 0%  ;)
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Re: Interest rates down to 1.5%!
« Reply #8 on: 08 January 2009, 12:50:07 »
Bad news for everybody.....I suspect the cost of goods will sky rocket due to the resultant low value pound....
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Markie

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Re: Interest rates down to 1.5%!
« Reply #9 on: 08 January 2009, 12:54:17 »
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Bad news for everybody.....I suspect the cost of goods will sky rocket due to the resultant low value pound....


That is indeed the other side....i think todays rate cut would have been MUCH more IF the £ was not getting battered....
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Richie London

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Re: Interest rates down to 1.5%!
« Reply #10 on: 08 January 2009, 12:55:40 »
its the works of a desperate govt, lower interest rates, creating 100,000 jobs out of thin air and there is talk of printing money to get ease the recession as darling puts it.  :-/

http://uk.news.yahoo.com/21/20090108/tuk-darling-mulls-money-printing-plan-6323e80.html
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benbrunt

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Re: Interest rates down to 1.5%!
« Reply #11 on: 08 January 2009, 13:03:24 »
Which brings us full circle onto the 'Should we join the Euro' debate.


Runs and hides..... :-/
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Richie London

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Re: Interest rates down to 1.5%!
« Reply #12 on: 08 January 2009, 13:19:36 »
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Which brings us full circle onto the 'Should we join the Euro' debate.


Runs and hides..... :-/

i am english, not british, not european, and i never will be. i cross out forms that say british and put english. i measure everything in imperial, unless i have to. ask a 15 yr old how many 1/8's in an inch and you can have a good laugh.  ;D ;D
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Lizzie_Zoom

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Re: Interest rates down to 1.5%!
« Reply #13 on: 08 January 2009, 15:29:41 »
The way it's going, down to 0% as in the States. :D :D :D
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STMO123

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Re: Interest rates down to 1.5%!
« Reply #14 on: 08 January 2009, 16:12:29 »
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Which means savers rates will drop again .. :(

I wonder why I bothered saving any money to fund my retirement .. the way its going the banks will probably try and charge me for "looking after" it... :(

I dont think pensioners should be allowed to have any savings. I think it should be taken off them and given to young people so they can binge-drink and buy hoodies. That would stimulate the economy and everything would be ok. :y
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