How much will BoE cut rates by today?

[Bagpuss]

You didn't put "FACT!" at the end of that.

We already saved £400 per month on the last drop, and drop is good for us. The lower the better.

If interest rates fall to 0% and banks were expected to lend at 0.5% and then offered savers 0.25%. Do you think people would keep their money in banks?
If a large proportion of savers in the UK withdrew their deposits the banking system would go bust. Only around 10% of 'money' exists as cash.

[Bagpuss]

Repayment mortgages wont go down with interest rates will they? aren't they normally fixed amounts? Or are they fixed % aligned with the BoE interest rates or something?

I dont have one, so I wouldn't know.

If the interest rates hit 0% we could pay nothing each month. Could people with repayment mortgages also pay nothing?

£68 per hour! Who was this employer Noddy?

[SallyAnne]

£68 per hour! Who was this employer Noddy?

It kills you doesn't it

[Bagpuss]

It kills you doesn't it

You were the one bragging about it, but I don't understand how you appear so naive yet command such money. I think you are having us on!

[SallyAnne]

I think you are having us on!

You're right - I'm not even a contractor

[TimberWolf]

If interest rates fall to 0% and banks were expected to lend at 0.5% and then offered savers 0.25%. Do you think people would keep their money in banks?
If a large proportion of savers in the UK withdrew their deposits the banking system would go bust. Only around 10% of 'money' exists as cash.

Would you feel any better off with an interest rate of 4% and inflation at 5%? I suspect most people would, even if they are worse off.

Does anyone provide a real rate of growth figure for money left compounding in a bank? Anyone left money in a bank long enough to see it grow in real terms?

[DimPrawn]

You were the one bragging about it, but I don't understand how you appear so naive yet command such money. I think you are having us on!

Have to agree with baggy. SA comes across dimmer than a low energy bulb in a black lampshade. Labour voter too!

Apart from the public sector, what sort of client is going to hire someone like SA on £68/hr?

You is 'aving a larf!

[Bagpuss]

To play devils advocate when I said having us on, I mean't either about the rate or being daft as a brush

[BrilloPad]

Have to agree with baggy. SA comes across dimmer than a low energy bulb in a black lampshade. Labour voter too!

Apart from the public sector, what sort of client is going to hire someone like SA on £68/hr?

You is 'aving a larf!

Ever thought she might just be pretending?

Oh I forgot - everyone on cuk tells the truth.......

[Pondlife]

Have to agree with baggy. SA comes across dimmer than a low energy bulb in a black lampshade. Labour voter too!

Apart from the public sector, what sort of client is going to hire someone like SA on £68/hr?

You is 'aving a larf!

Ignoring the someone like SA bit... £68/hr is just under £550 per day and so not unreasonable for any contractor who can blag a senior role.