0% the new Y2K?

[Mark]

C&G now have to charge 1,500 of their customers 0.001% (8p/£100,000/month) interest because their systems can't handle 0%. Apparently, they're trying to fix that. All I can say is 'lucky you', whoever those 1,500 customers are.

[Matblack]

Can't believe that this time last year I was paying around £180/ month in interest on the mortgage now its less than £60, soon to be about £40

MB

[Mark]

I'm still paying the same as I was last year.

[Zirax]

Originally Posted by Admiral Huddy

Base rate is now at 1% and further cuts maybe on the cards.

Well it really looks like we are going to hit 0% then. I hate to think of the exchange rates ...

Euro 1.14
USD 1.46

edit:-
http://www.forbes.com/feeds/ap/2009/...ap6002162.html

http://www.bloomberg.com/apps/news?p...g&refer=europe
"Chancellor of the Exchequer Alistair Darling has suggested that he may have to scale back his prediction of a recovery in the second half of the year. He said yesterday that major economies are facing the worst slump since the 1930s."

[bam]

In the 70s Switzerland had negative interest rates on swiss franc deposits by non residents, to try and stem appreciation against the dollar. The rate was -40% annually.
Thinking about negative interest rates on loans, rather than giving you money directly shouldn't it just come off the capital of the loan, not that it'll ever actually happen.

[borris]

Originally Posted by Zirax

"Chancellor of the Exchequer Alistair Darling has suggested that he may have to scale back his prediction of a recovery in the second half of the year. He said yesterday that major economies are facing the worst slump since the 1930s."

Lucky that the rest of the world had already faced up to that particular little fact, and ignored Darling in the first place, as befits the mendacious mong faced gonad.

[Zirax]

Originally Posted by borris

Lucky that the rest of the world had already faced up to that particular little fact, and ignored Darling in the first place, as befits the mendacious mong faced gonad.

LMAO I fully agree and I was hinting of that, but you've put it brilliantly. For example IMF and the rest of the world say the economy is going to shrink..... Darling predicts growth Q2

[Chuckles]

Apparantly the general feeling is that this is the last of the cuts and the next change will be an increase. Hopefully not until 2010 though

[Mark]

Meh - I was told that by a Mortgage adviser at Lloyds a few weeks ago. Look what happened next.

They're obviously not far off the bottom though so I expect they're probably right.

Originally Posted by borris

Lucky that the rest of the world had already faced up to that particular little fact, and ignored Darling in the first place, as befits the mendacious mong faced gonad.

Feel free to tell us what you really think of him.

[Fayshun]

Originally Posted by borris

...the mendacious mong faced gonad.