Savers Want 2.5 per cent Interest Rate
Published / Last Updated on 19/05/2011
Savers Want 2.5 per cent Interest Rate.
Research by Aldermore has shown that savers would like the Bank of England Monetary Policy Committee to raise interest rates by 2%. Responses from more than 800 people showed that 60% would like a rise by at least 2 or 3% and 36% would like rates to rise by 4% or more.
The research also revealed that savers believe the bank base rate will only increase by between 0.25% and 0.5% by the end of 2011. The biggest fear is that the savings rates won’t increase with the banks base rates and therefore savers will end up worse off than they are today.