So the Bank of England has cut the interest rate again.
What a brilliant move.
Most businesses didn't want the rates cut again because they were yet to feel the benefit from the previous cut, but it doesn't seem like the BofE is interested at all.
Banks are still not passing on these massive savings to the majority of the general public, so as usual are coining it in.
I have been checking out some comment sites and it is filled with gleeful messages from large mortgage holders who are practically rolling in all their spare cash - well at least those on tracker mortgages that is. As someone who has always been careful with money and has tried to save wherever possible - this quite frankly makes my blood boil.
I have said and I will say again - why is this country constantly penalising the savers who over the years have kept the banking system going? Without them there is no cash to put into the economy. Just another huge slap in the face.
This is the wrong thing to do and one day it will come back to bite the decision makers on their behinds. Bring on that day soon.
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