Interest Rate Down to 1.5% now
#3
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STOP REWARDING RECKLESS MUPPETS AND PUNISHING PRUDENT SAVERS YOU GOVERNMENT BAR STEWARDS!
I now feel slightly better.
Our interest was covering pretty much all our annual bills. Now it's not. Bu66er. Bu66er. Bu66er.
Oh well, the tide will soon turn.
I now feel slightly better.
Our interest was covering pretty much all our annual bills. Now it's not. Bu66er. Bu66er. Bu66er.
Oh well, the tide will soon turn.
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#19
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I was talking spread betting, Dave, nothing to do with the real world.
Savers will be hit hard, they're always the fall guys in a recession. 4.9% for 2 years isn't the end of the world, lots of people are locked in a lot higher.
Savers will be hit hard, they're always the fall guys in a recession. 4.9% for 2 years isn't the end of the world, lots of people are locked in a lot higher.
#21
Now if the CC company's dropped there rates to say 7-8pc
then people would prhaps pay off more, thus giving them a bit of light at the
end of the tunnel. in turn it may get some money back to the banks.
Mart
then people would prhaps pay off more, thus giving them a bit of light at the
end of the tunnel. in turn it may get some money back to the banks.
Mart
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#24
The current high rates should make people pay off their debts.
Lower rates would encourage them to borrow more.
#25
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What does this reduction actually achieve wrt the economy? Fixed rate mortgages, high credit / store card rates, utility bills related to external factors, raw materials priced in $US, etc. what will change?
#26
Well,they can do whatever they want to interest rates.
Can't see it kick starting the housing market or solving peoples tens of thousands of pounds of debt with no lenders prepared to lend them money to pay it all off.
Especially having no equity anymore.
What a mess.
Can't see it kick starting the housing market or solving peoples tens of thousands of pounds of debt with no lenders prepared to lend them money to pay it all off.
Especially having no equity anymore.
What a mess.
#27
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Last rate cut, the banks increased the borrowing rate to each other.
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Very good question. A cynic (like me) would say not very much. But like all capitalist cycles, a huge part of what drives it is sentiment. It is, after all, driven by human spending and saving patterns. A reduction in borrowing costs will encourage people to spend, or at least save less, and that, in theory, will kickstart the economy. But the actual difference between 2% and 1.5% to the average man in the street? Negligible.
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5t.