or should it have been more?
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Interest rates down 1.5% - enough?
or should it have been more?
More than I expected. I thought it was going to be around 0.5 - 1% max.
Is a good thing considering the economic climate, especially if all the banks follow suit with their rates too.
THEY WON'T FOLLOW SUIT IN A HURRY UNLESS MR BROWN TELLS THEM!Originally Posted by Ste
No good for savers though!
Its one of the largest cuts I've ever seen in my lifetime, and is a good indication that the UK is in bigger SH*T than many people think.
I see the sales of new cars are down drastically too, its not looking good fellers, hang onto your pennies.
Last edited by 67688c; 6th November 2008 at 15:29.
The largest cut since 2% back in 1981.No good for savers though!
Its one of the largest cuts I've ever seen in my lifetime, and is a good indication that the UK is in bigger SH*T than many people think.
I see the sales of new cars are down drastically too, its not looking good fellers, hang onto your pennies.
If it gets any lower they will soon be paying YOU to borrow their money.
How many on here can remember mortgage rates of 15%.
Near enough, late 80's early 90's?
I can remember 16% around 1981-2.
Hard times.
Before my time, got my first mortgage in 85.
Being young and niave (SP?)
How will this affect day to day living, will things get cheaper?
I have just taken out a mortgage on a fixed rate for 3 years as i knoew it was what i could afford with the market seemingly all over the shop.
Have they dropped the interest rate to allow more money to be swapped around and spent?
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