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Re: Bank of England raises base rate of interest to 1%
Rates are now 1.25%. The question long term is how many more interest rate rises there will be and at what level rates will get to in the current cycle of rate rises.
Re: Bank of England raises base rate of interest to 1%
We are regularly overpaying our mortgage which has a 1.34% fixed rate. It's getting to the point where, for us, it is better to put the money in a savings account and pay a big wedge at the end. I see 4 year accounts paying nearly 3% now.
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Re: Bank of England raises base rate of interest to 1%
Quote:
Originally Posted by Mr K
Increase them 10% as far as I'm concerned. Savers have suffered too long , and house prices are absurdly high thanks to cheap lending.
But that also hits business that borrow -> raised prices. And all those who have borrowed. I agree that as a saver I like to see better rates but I do also think of those who aren't.
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