• A  A  A  A  

BoE rate hike essential to normalise interest rates

by Insignis Cash Solutions in Industry Perspective

Giles Hutson, CEO of Insignis Cash Solutions, comments on how savers will be affected by today’s Bank of England decision to hike interest rates: “Today’s hike is a welcome boost to the savings market. The previous rate rise in November 2017 plus increased competition in the banking sector through the introduction of more challenger banks, will start to restore deposit returns which have been incredibly low for years. Our economy is continuing to perform well, and now is the time for the central bank to make further moves to normalise interest rates. “A long term low rate environment is unsustainable, and this rate rise sends a clear message that people must incorporate rate changes into their financial planning. Being complacent could drive families or companies into more debt than they can afford. “This hike will help restore the BoE’s war-chest, giving them the breathing space to reduce rates again should we end up in a hard Brexit situation. Concerns surrounding Brexit uncertainty mustn’t be an excuse to postpone additional hikes; if rates go up, they can always be cut back down should negotiations or the Brexit fall out next year require it.”

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

FONT SIZE

  • A  A  A  A  

Press Contacts

Sally Maclachlan
sally.maclachlan@insigniscash.com
01223 200 674

TWITTER

Insignis Cash's Twitter avatar
Insignis Cash
@InsignisCash

Using UK banks with FSCS protection goes a long way to mitigate risk. Contact us today to see how we can help (we a… t.co/Q4B4DwSX9I

Insignis Cash's Twitter avatar
Insignis Cash
@InsignisCash

We're looking forward to the @PIMFA_UK Woman in Wealth event tomorrow. See you there!!

Insignis Cash's Twitter avatar
Insignis Cash
@InsignisCash

The @TheMoneyCharity stats indicate that the average instant access savings rate for July 2019 was 0.41%. We can ge… t.co/pdaTZZbjm6

Insignis Cash's Twitter avatar
Insignis Cash
@InsignisCash

We can help with getting better interest for your cash savings by using multiple bank accounts all in one platform,… t.co/Ro49jLCiQg

Insignis Cash's Twitter avatar
Insignis Cash
@InsignisCash

Offset the impact of inflation by using a cash management service t.co/eRClwM0k2b

Show Media
Tweet Media

As Featured In: