UK Interest Rates To Fall To One Percent (1%)

The Bank of England (BOE) cut interest rates by another percentage point yesterday to just two percent. This is the lowest that interest rates have been for sixty one years and just shows what a mess the economy is in. Those on tracker mortgages are loving every minute but just how low will the rates go?

Well I had a meeting yesterday with a big wig from one of the major British banks. He was convinced that interest rates would fall to one percent before bottoming out and that until they do the economy will not improve in any significant way.

If the rates do fall to this rate of 1% then I for one will be fixing my mortgage for the next ten years!

For those who can keep in employment then these times may not be so bad. Various prices are much lower today than they were a year ago including food, cars, petrol and now mortgage repayments. This is just me trying to think in a positive manner, as per usual!

Steve Hill   http://www.stutter-stuttering.com