UK savers continue to get screwed by the BOE's near-zero rate policy and are fearing worse.
Low interest rates may have helped the country survive the terrible financial crisis of 2008. They could also steer us through the fallout from the Brexit vote in June – a view certainly held by Bank of England boss Mark Carney who quickly sanctioned a cut in the base rate to 0.25 per cent.
But seven and a half years of low rates have caused nothing but pain for savers who depend on the interest from their cash accounts to maintain a decent standard of living.
DTN UK: Low rates and rising inflation mean more misery for savers: Here’s what the Chancellor must do to end... https://t.co/m9Wnpds0CG— DTN UK (@DTNUK) October 23, 2016