Interest Rates Head for 0%... And Millions Will Pay Price

Daily MailDecember 05, 2008

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Summary


THE Bank of England could slash interest rates to zero per cent within months, economists said yesterday.

But the majority of homeowners will not save a penny on their mortgages - and millions of savers will pay a heavy price.

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Interest Rates Head for 0%... And Millions Will Pay Price

Economists said the dire economic outlook as Britain heads into a recession will trigger the lowest rates since the Bank was set up in 1694.

Yesterday the central bank took the axe to the base rate for the third time in just three months.

It cut the rate by another...

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