CPS Homes

Interest rates lowered to 0.5%

For the sixth successive time the Bank of England has lowered the interest rate, now down to 0.5% at an all time low as in an attempt to revive the economy.

The last interest rate cut was in January, which was reduced down to 1%.

However, critics including business groups have attacked the recent spate of reductions as they say they have done little to encourage the banks to lend more, whilst others argue that they are unfairly hurting the returns of savers.

Have your say: are these interest rates helping you with your mortgage repayments, or are your savings being hurt by these reductions?

Leave your comments below.

05 March 2009

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