30 months of 0.5% base rate: How to make the most of your savings

Jess Bown
pocket money
pocket money

When the Bank of England Monetary Policy Committee slashed the base rate to 0.50% 30 months ago, very few people expected it to remain at this historically low level for this long.

However, the ongoing economic uncertainty has persuaded the Committee to avoid increasing the base rate due to fears that higher mortgage payments could force homeowners to default on their loans. And savers have suffered for more than two years as a result.