The Bank of England cut interest rates to 5.25 percent in attempt to shore up the economy in the face of the global credit crisis but dampened hopes of rapid fire rate cuts due to concerns about inflation.
Was the quarter-point cut enough or just a drop in the ocean? What impact will the cut have on you, as a homeowner, saver or prospective first-time buyer?
Send us your comment.
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3 comments so far
I’m a net saver. It’s bad news. I’m not sure your writers ever think very hard about people like me. Happy to be proved wrong.
- Posted by bleeding heartThose people who save for a rainy day or for their retirement get clobbered again at the expence of those who have overstreached themselves by overspending or trying to live outwith their means. Tough on them they should be brought back down to earth with a bang and live in the real world.Rates were only cut to help the houseing market,if people didn’t fill the pockets of the builders by buying houses at stupid prices the country would be in better shape today instead of this mountain of dept.This rate cut will have verry little effect i fear on the economy as a whole ,the horse has bolted and run away!!!!!!!!
- Posted by john scotlandEven the most prudent, hard working 20-somethings without credit cards or cars on HP in the smallest of houses are stretched to pay off their mortgage each month.
We need bigger rate cuts.
- Posted by Matthew, England