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Interest rates - effect on savers, P2P lender ThinCats PDF Print E-mail
Monday, 18 July 2016
Commenting on the Bank of England’s decision to keep interest rates at 0.5%, Kevin Caley, Founder and Chairman of peer-to-peer lender ThinCats, said:   “The Bank of England may have kept interest rates at 0.5% for the time-being, but a rate cut to stimulate the economy and free up money for lending seems inevitable. When this happens, it will be miserable news for Britain’s hard-pressed savers, who have been earning dismal returns on their money since the financial crisis.

“In such uncertain economic times, the prospect of interest rates returning to pre-crisis levels any time soon is highly unlikely and anyone with money in the bank should be rethinking their savings plans.”

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