MonkeyLove
Striker
Seems the Bank of England are seriously considering it?
Does anyone know what the practicalities of this would be? Will it actually reach consumer banking and in essence you would pay a tiny amount on your balance for them to keep your money?
It seems utterly pointless as the financial sector seems to be ignoring the base rate anyway. Santander wrote to me the other day to say I’m still getting 0.6% interest and the best rates for mortgages even at 40% ltv are 1.16%
I know the base rate affects wider markets but for restarting consumer spending which is the BOE and governments main aim it seems banks are just ignoring the 0.1 level anyway. Only people benefitting will be the small minority on very attractive trackers. @HellsBells @monkeytassle thoughts?
Bank of England paves way for negative interest rates
Governor says all options are open after UK sells first ever bond with negative yield
www.theguardian.com
Does anyone know what the practicalities of this would be? Will it actually reach consumer banking and in essence you would pay a tiny amount on your balance for them to keep your money?
It seems utterly pointless as the financial sector seems to be ignoring the base rate anyway. Santander wrote to me the other day to say I’m still getting 0.6% interest and the best rates for mortgages even at 40% ltv are 1.16%
I know the base rate affects wider markets but for restarting consumer spending which is the BOE and governments main aim it seems banks are just ignoring the 0.1 level anyway. Only people benefitting will be the small minority on very attractive trackers. @HellsBells @monkeytassle thoughts?