intrest rates shouldt be increased untill economy is recovered and back to normal millions of cash strapped families are already struggling to coup this will make it more difficult for them to survive at this point.
YES! The thrifty savers have had enough of being conned by having to make up for the banks wild speculation and people who took on debt they either could not afford or had no intention of paying back.
In any event, the low rate isn't being passed on to credit card customers by the greedy banks, and motrgage borrowers must be getting a false sense of security with low rates meaning the irresponsible will run up more debt.
All savers bills are rising too: pensioners are the biggest sufferers.
Rising inlation is destroying sayings in the UK. Forget what the Bank of England say about interest rates and inflation and look at what they are doing which is to keep interest rates low so they can inflate their way out of debt whilst leaving prudent savers to suffer the consequentces.
I'm sure it wasn't the savers who 'helped' the country in to a financial crisis, so why do savers STILL have to continue subsidising the 'spenders' ? As a result they then benefit from cheap mortgages etc. while we suffer with low interest rates.
If all us 'responsible' people spent all our savings what would happen then???
It's about time savers should stop subsidising borrowers.
I think that the base rate should be around 4% so that savers can earn a decent rate of interest to keep pace with inflation. Both my savings and pension are being eroded by inflation. As a pensioner, my inflation rate is much higher than 3.7% as I spend most of my income on food and energy which have increased by more than 3.7%.
Live within your means
Get a suitable result for being realistic with what you can afford.
I agree 100%
I would like a big screen TV........I cannot afford one .......therefore I do not have one.
My savings used to provide a small extra income, now thet are loosing money in real terms.
No justice is there ?
The very low rates are causing distortions, but increasing them will not reduce inflation.(Because it is being imported and not due to excessive wages) But a small increase might tend to reduce the tendency for distortions. The problem is that the banks would probably raise their LOAN rates more and their SAVINGS rates less, to make more profit still!
Yes, the bank oc England should increase the rate, otherwise the longer they delay, the more trouble ahead of everybody.
What is the point the bank of England keeping the interest so low, but the bank and credit card company charged their customer at a very high rate. NO WONDER ALL THESE COMPANIES AND BANKERS HAVE MADE OBSCENE BONUS WHILE EVERYBODY IS SUFFERING.
I'm not sure that raising interest rates will actually help inflation which is mainly being caused by rises in core costs like fuel, gas and electricity and food. Increasing the cost of mortgages will hit mainly families and those starting out in life with their first properties and probably add to inflation when the increases in mortgages are added to the other core costs. I am both a saver and a borrower, and find it difficult to understand the morality of savers who merely want to make money out of having money in the bank - money lent to the very borrowers they despise to make profits to pay interest to them!
I am not sure why everyone is up in arms about inflation. Inflation at 5% is quite healthy ..... and easily maintained, even with a low interest rate. The problem with us is that we are too service-driven and not manufacturing and emgineering-driven. When interest rates are low and inflation rises, the currency drops and exports rise expotentially. It goes without saying that a weak local currency makes for an ideal export market. So, instead of speculating on currencies and stocks and shares, we are now actually manufacturing items that the rest of the world eeds and can afford. How can that be so bad? Our kids will actually learn a decent trade again.
its not about keeping within your means wages are going backwards, people are having to take big cuts in wages to keep there jobs so were as before they were living comfortably now there not, food rises bills going up petrol rising near on every week. so no to intrest rate rises.
Raising interest rates will affect all businesses if they have a bank loan/overdraft etc and they will have to cut back on staff etc.That would be disastrous for our very fragile economy and in the long run the poor will suffer once again.Those who have saved should not have relied on interest to fund their living,think yourself lucky you were able to save in the first place,you will just have to dip into your savings.
Interest rates should be increased to 4% over the next six months,and cedit charge cards should be reduced by seven%,to try and stop the hogs in the trough.
Why should the Bank of england expect the tax payers to condone the excessively high profits of these parasites again when they had to be bailed out 2 years ago with tax payers money,that they still have not repaid.
Take note the Chuckle Brothers,you are there for only a short time to grease your pockets
Yet still give out expansive bonuses for what they are paid and very well to do.
If they say we will go to another country as they will pay better,carry on, with your record no chance.
Loosers all of them.
Of our money.
Then come back and tax you to the hilt.
The lib dem tory pact what a sell out for lib-dem voters,complete opposite to what they pledged,another sell out.
As to Mervin King Govorner of the Bank of England he does not care won`t hurt his pay-packet,or the chuckle brothers who are suppost to running this country.
Yes into the ground
Interest rates should be increased to 1% and the gradually pushed up to 2% in the next 12 months. This should give enough time to people in financial sensitive situation to re-evaluate the current position and make any adjustments accordingly.
There is a notion among certain groups that the interest rate should be kept down simply because they will no longer be able to pay their mortgage. While there is some sympathy for those that find them-self in that situation, the fact is that they are most likely living in a house that they can no longer afford!! This is plain simple fact of life, those who can afford and upgrade to executives houses will do so, those that cant afford to should simply downgrade.
It seems very selfish to keep interest rates to mainly benefit a particular social group.
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