Interest rate cuts unpopular, says survey
www.moneynews.co.uk > General finance > Interest rate cuts unpopular, says survey
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Interest rate cuts unpopular, says survey
Wed 14th Jan 2009
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The poll, conducted by moneysupermarket.com, found that more than two-thirds of Brits were against the move, which reduced the base rate of interest to 1.5 per cent, the lowest for three hundred years.
Louise Cuming, head of mortgages at moneysupermarket.com, said that while the rate cuts would not necessarily get banks and building societies lending more freely, they would probably hurt savers.
Her colleague Kevin Mountford, head of banking at moneysupermarket.com, added: "The tide is definitely turning and the collective voice of the nation's army of savers is getting louder.
"The bulk of people have been angered by Thursday's slap in the face from the Bank of England for what has been, in some cases, a lifetime of diligent saving."
Last Thursday's cut of 0.5 per cent was the third in three months.
Click here for more banking news
Related News : General finance |
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Related News : Banking |
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