Interest Rate's have gone up!


#1

Interest rates are now 0.5%. Hardly a massive change but the first change in a decade no less. Personally I’m happy to see the rise as my (modest) savings may see a (modest) return! Might be able to afford me some more tools in another 10 years! :laughing:

What are your thoughts?


#2

A lot of ‘gum bumping’ on Ch4 news yesterday evening and a really great interview with Mark Carney and Jon Snow. It won’t make an awful lot of difference to me and other folk who are retired with fixed incomes, but I suspect that those who’ve had a mortgage for a few years may not have factored into their equations the notion that there may be rate hikes at some time in the future. It will be probably come as a nasty ‘wake up’ call to many. One point raised last night was that very low interest rates over the last decade (ie cheap money) has prompted consumer spending with the corresponding debt that goes with it…which of course, has to be paid.