Savers are really getting screwed now. Best to spend your money, which sounds silly but it looks like the government likes inflation (we do need to reduce the debt) and government policy is for low interest rates.
One ray of hope, but will only count for a little:
You can get 5% (fixed until 1 June 2011) at northern rock with their ‘fixed rate regular savings account’. you can only put in £250 per month but access is easy
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It's depressing. Need to buy something that can't be inflated. Gold? Gives appearance of being in a bubble at face-value, but in real terms is still half as expensive as it was in 1985, so the FT say. Think that will be my next bet...
ReplyDeleteYou know the old saying "There is an inverse correlation between the amount of gold that someone surrounds themselves with and their intelligence"
ReplyDeletehttp://www.zimbio.com/pictures/cH4aG26Gpw4/The+Queen+Opens+Parliament/k3ytIknXAIQ