Savers group calls for interest rate rise

The campaign group Save our Savers has claimed that UK savings have been eroded by £50 billion over the past year through a combination of low interest rates and rising inflation. The Bank of England’s Monetary Policy Committee (MPC) yesterday held interest rates at 0.5%, the 28th consecutive month that interest rates have remained unchanged. In an effort to sway the MPC’s decision Save our Savers wrote to each member of the committee urging them to vote for a rate rise. Campaign Save our Savers is campaigning for a rise in interest rates and it has warned that those on fixed incomes, many ...