Even Lower Interest rates

Interest rates have been reduced to 1% by the Bank of England to try and kick start the economic recovery, or at the very least to slow the negative growth that the UK economy is experiencing. Previous cuts haven’t had the desired effect and it doesn’t look like this reduction will be any different.

This is further bad news for savers especially those who are elderly and rely heavily on their savings to survive and also counter productive for Banks who are seeking more deposits.

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