It is almost 7 years since Mervyn King, the then Bank of England Governor, slashed UK interest rates to the unparalleled figure of 0.5% – 5th March 2009 to be precise! In just under five months, starting on 8th October 2008, the rate had come down from 4.5% to that low figure, all in an attempt to ensure the British economy survived the worldwide credit crunch and there it has stayed since.
In the Summer of 2015, people were predicting a rise in the New Year, yet now, some forecast it may stay at this level for years yet to come with the issues in China. Now, I am not some City Whiz kid with a hotline to Mr Carney at Threadneedle Street, but merely a humble letting agent from Walsall, so I cannot profess to know what will happen to interest rates. However, what I do know, speaking to my Walsall friends and Walsall landlords is that these low interest rates have hit savers really hard.
Walsall Property Blog 
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