Savings: Bank of England considers negative interest rates. How would your savings accounts be affected?

Bank of England considers negative interest rates. How would your savings accounts be affectedThe prospect of negative interest rates was raised yesterday by Paul Tucker, a Deputy Governor of the Bank of England. Whilst most experts believe it is unlikely to happen, the thought will understandably send shivers down the spine of those of us with savings accounts. The problems facing savers have been well documented; Bank base rate has been stuck at 0.5% since ...

UK interest rates remain at 0.5%

For the 27th month in a row the Bank of England’s Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 0.5%. In addition no further quantitative easing measures were announced. Despite fears over inflation, which at 4.5% remains well above the Bank’s target of 2%, the decision to keep rates on hold will come as little surprise, although a rise is expected at some point. James Knightley economist at ING said believes that the UK’s poor economic data has led some to "push back expectations for the timing of the first UK rate hike to March next year". "However, with ...