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Written by Aaron Brigatti  
Wednesday, 04 March 2009

Well rumours of another Interest Rate-Cut by the Bank of England are spreading again...not sure though whether it will be successful - and I will no not benefit from any subsequent cuts due to my 1% collar on my Nationwide mortgage policy!

Here's the history so far:

  • 8 October 2008: 4.5%
  • 6 November 2008: 3.0%
  • 4 December 2008: 2.0%
  • 8 January 2009: 1.5%
  • 5 February 2009: 1.0%
Lets see what happens on Thursday!!

Well another drop confirmed!
Written by abrigatti on 2009-03-07 13:09:38
On Thursday, 5th March, the Bank of England announced another 0.5% drop of the Base-Rate to what is now a record low here in the UK - 0.5%!! 
This has now decreased the rate for the last 6 months running from a high of 5% in prior to October 2008 down 4.5% to its current value in March 2009!! 
Luckily my savings have now moved into a mortgage - so I can attempt to benefit from this huge demise in the interest rate! But for those with savings, this is shockingly bad! I still don't understand it. Those with savings who were prudent to make the most of good money management - have now been penalised for those who were stupid enough to borrow more than their means! Ridiculous!

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