An ordinary guy trying to make a difference
Not since the Bank of England was founded back in 1694 have interest rates in the UK been at 1.5 % (after the Bank of England announced a 1/2% cut earlier).
Great if you’re on a Tracker Mortgage (although some banks have hinted they are not going to pass the cut on), but not much use if you’re either a saver, investor or have a Fixed Rate mortgage deal like yours truly who is no better off as a result of all these rate cuts.
http://news.bbc.co.uk/1/hi/business/7817453.stm
Read the complete post at http://wmug.co.uk/blogs/cliffs_blog/archive/2009/01/08/misc-bank-of-england-slashes-interest-rate-to-all-time-low.aspx