Bank of England cuts interest rates to 0.25%

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Posted 11th Mar
Short and simple.. what’s the point of savings?!
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I don't care. I just want some toilet paper.
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That's the idea behind all rate cuts, boost the economy by spending, more money exchange hands, feel good.
I don't care. I just want some toilet paper.
Short and simple.. what’s the point of savings?!

well if you had "significant" amount of £ then a fixed term bond/ISA/other would have been the way to go. OK, even then you are talking about rates of 1.5% (before the cut today) but better than nothing.
Its alot to do with helping cashflow for small businesses, as alot of them will now have to borrow to keep up
Got the letter today from my bank.
if you have a lot of cash, it is not safe to stash it under the bed. that is the point of savings

in some countries the bank actually charge you for keeping money with them as they are acting as your security safe.
They need to make sure that house prices continue to rise.
This rate-cut will help with that policy.

It's nice to see some alots commenting aswell
Edited by: "Erudite" 11th Mar
CaptainSpaulding11/03/2020 08:38

I don't care. I just want some toilet paper.


Pssst What you after fella I got some Cushelle, Andrex, Nicky or some Tesco value brand but that's been cut with Izal to bulk it out, I've also got a few copies of the Sun & Daily Mail, I can cut it into squares & attach it to a piece of string, but that'll be extra.
Edited by: "richp" 11th Mar
Never mind saving - best time to a variable rate mortgage.
Short and simple.. what’s the point of savings?!

I think when the interest rate reaches 0%, everyone has the automatic right to start rioting in the streets.
I've got my eye on a smart new Polaroid TV with Nicam stereo sound in the window of Comet
Started a mortgage application on Monday and survey booked for tomorrow. Since hearing the news, I want to delay the progress of the application till April 1st when I expect the mortgage rates to go down to reflect the cuts.

Will the bank allow me to choose the lower rate from next month? Will I have to start the whole application again or can they just amend values?
Edited by: "hassan1994" 11th Mar
Not much point OP. Return to the noughties and spend, get in debt, don't save. Crazy. I did that, then learnt to save. Since then interest rates have been rock bottom, and hardly worth it.
richp11/03/2020 13:28

Pssst What you after fella I got some Cushelle, Andrex, Nicky or …Pssst What you after fella I got some Cushelle, Andrex, Nicky or some Tesco value brand but that's been cut with Izal to bulk it out, I've also got a few copies of the Sun & Daily Mail, I can cut it into squares & attach it to a piece of string, but that'll be extra.



I'll swap you some for some watered down hand sanitizer mate
richp11/03/2020 13:28

Pssst What you after fella I got some Cushelle, Andrex, Nicky or …Pssst What you after fella I got some Cushelle, Andrex, Nicky or some Tesco value brand but that's been cut with Izal to bulk it out, I've also got a few copies of the Sun & Daily Mail, I can cut it into squares & attach it to a piece of string, but that'll be extra.


Forget the Izal, Bronco is the way to go. So sharp and impervious, lasted forever. Happy days!
happy days those not on a fixed mortgage term!
hassan199411/03/2020 16:01

Started a mortgage application on Monday and survey booked for tomorrow. …Started a mortgage application on Monday and survey booked for tomorrow. Since hearing the news, I want to delay the progress of the application till April 1st when I expect the mortgage rates to go down to reflect the cuts. Will the bank allow me to choose the lower rate from next month? Will I have to start the whole application again or can they just amend values?


Completely depends on the bank. Some will swap no problem, some will charge a fee to swap. Others will make you start the application again.
nicholasgatti11/03/2020 17:00

Completely depends on the bank. Some will swap no problem, some will …Completely depends on the bank. Some will swap no problem, some will charge a fee to swap. Others will make you start the application again.


Actually if it’s not gone to offer yet they will prob let you swap.
nicholasgatti11/03/2020 17:03

Actually if it’s not gone to offer yet they will prob let you swap.


Alright great thanks. Do you think they’ll allow me to select an upcoming rate, For example, if the bank announces a lower rate for April 1st or May 1st, will I be able to choose one of those instead of the current rate?
Edited by: "hassan1994" 11th Mar
hassan199411/03/2020 23:44

Alright great thanks. Do you think they’ll allow me to select an upcoming r …Alright great thanks. Do you think they’ll allow me to select an upcoming rate, For example, if the bank announces a lower rate for April 1st or May 1st, will I be able to choose one of those instead of the current rate?


Very unlikely. The banks don’t normally “announce” new rates until they’ve already taken effect. Most notice I’ve ever seen them give us 24 to 48 hrs and even that’s rare. What bank is it?
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