the economy.

[Ronnie the Rep]

And long may they remain at 0.5% on a side note :)

No good for me though SWP. No debts so struggle to keep up with inflation

You want to see an IFA mate ;-)

I have. Done my ISA's, paid my pension. Invested in a VCT, done the house up.

Now what?

 

[stonerblue]

So when will interest rates on savings go back up now we're on the up and up ???

Do you not read the news?
Interest rates remain unchanged until unemployment falls below 7%

Yes i read the fuckin news smart arse. I was hoping for some insight from our resident experts.

 

[BoyBlue_1985]

So when will interest rates on savings go back up now we're on the up and up ???

Do you not read the news?
Interest rates remain unchanged until unemployment falls below 7%

Yes i read the fuckin news smart arse. I was hoping for some insight from our resident experts.

On what, when unemployment will drop below 7%?

 

[SWP's back]

So when will interest rates on savings go back up now we're on the up and up ???

When unemployment goes back below 7% or if inflationary pressures increase.

Not for a good 18 to 24 months at the earliest is my best guess.

So at least another 3 years of the banks using my money for rock all then. The fuckin dirty bastards.

'Fraid so.

I do find it appalling the disparity between the rates they lend at and the rates they offer to savers, back in '06 a typical Apr on a loan was 7.2% and yet you could put £10k in a term deposit at 5%pa (gross), now the same borrower (not talking AA+ class) would get 8 or 9% and the savers get under 2%.

Still I personally can't complain as it helps my business but I can still see that it is a piss take.<br /><br />-- Mon Aug 12, 2013 2:14 pm --<br /><br />

No good for me though SWP. No debts so struggle to keep up with inflation

You want to see an IFA mate ;-)

I have. Done my ISA's, paid my pension. Invested in a VCT, done the house up.

Now what?

That's a conversation that takes a good hour mate in all seriousness.

Million different factors to involves, income, total assets, liquid assets, tax status, age, goals, beneficiaries..... list goes on and on.

 

[BoyBlue_1985]

My savings are doing nothing, put money away every month for a mortgage and every fucking month house prices rise quicker. Will be paying my landlords mortgage off for eternity at this rate

 

[Skashion]

Will be paying my landlords mortgage off for eternity at this rate

[youtube]http://www.youtube.com/watch?v=2OSlU8lYwH0[/youtube]

 

[stonerblue]

Do you not read the news?
Interest rates remain unchanged until unemployment falls below 7%

Yes i read the fuckin news smart arse. I was hoping for some insight from our resident experts.

On what, when unemployment will drop below 7%?

quantative easing
Funding for lending
BofE Base rate
Inflation

or did they not mention these things in 'the sun'?

 

[BoyBlue_1985]

Will be paying my landlords mortgage off for eternity at this rate

[youtube]http://www.youtube.com/watch?v=2OSlU8lYwH0[/youtube]

Nah he is a nice guy, lets us do what we want. He bought the place for 90k ten years ago and its now worth nearly £400k. He is laughing all the way to the bank with his oil selling missus

 

[metalblue]

So when will interest rates on savings go back up now we're on the up and up ???

The QE exit is in sight, advanced economies are getting on a footing to handle shocks from a rate increase, especially the US. For UK I expect a modest rate increase (0.25%) sometime during second half 2015, I would go further and say Q4 2015. After that I see a fairly regular uptick in rates, 2016 averaging around 3%, 2017 4%. UK neutral rate of 4.5% should seen in 2017.<br /><br />-- Mon Aug 12, 2013 2:51 pm --<br /><br />The eurozone has one more rate cut in it, probably at end of this year

 

[johnmc]

So when will interest rates on savings go back up now we're on the up and up ???

The QE exit is in sight, advanced economies are getting on a footing to handle shocks from a rate increase, especially the US. For UK I expect a modest rate increase (0.25%) sometime during second half 2015, I would go further and say Q4 2015. After that I see a fairly regular uptick in rates, 2016 averaging around 3%, 2017 4%. UK neutral rate of 4.5% should seen in 2017.

-- Mon Aug 12, 2013 2:51 pm --

The eurozone has one more rate cut in it, probably at end of this year

Im wondering whether to go for a 2 year or 5 year fixed rate mortgage - given what you are saying there wouldnt be much in it savings wise. 2 years fixed the base rate is unlikley to change anyway but the 5 year deal may pay dividends towards the end.