Bank decision "will be welcomed by savers"
Savings account holders in the UK will welcome the recent decision by the Bank of England to leave interest rates unchanged, according to analysts.
Analysts at Moneynet.co.uk have claimed that the Bank of England's decision to leave interest rates untouched will be welcomed by savings account holders in the UK.The decision by the bank's monetary policy committee (MPC) means that the base rate of interest will remain at 0.5 per cent, which may persuade high street savings account providers to leave their rates untouched.
Moneynet.co.uk said: "The MPC decision to leave rates on hold will be welcomed by millions of battered savers, although it is a miniscule crumb of comfort when you look at savings rates on offer today compared with last October."
The website calculated that the successive cuts of the last six months have left many savers considerably worse off in terms of the interest they can earn from their money.
Recent research by websites such as moneyfacts.co.uk and moneysupermarket.com has shown that high interest savings rates are becoming increasingly hard to find in the UK.
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