Low base rate 'not pleasing everyone'

Date:Monday 12th April 2010
Author: Susanna Kavka

A poll has shown that the low Bank of England base rate has not led to everyone feeling better off financially, although it has been welcomed by many mortgage-holders.

The survey conducted by Adfero asked people in Sheffield whether they felt that 0.5 per cent base interest rate had left them better or worse off and 56 per cent of respondents chose the latter.

Kathryn Painter, 29, told the team: I haven't noticed it myself, but I'm sure I would if I was doing something like paying a mortgage."

Another person to take part in the research, 54-year-old Graham Jackson, described how the low rate has made a "big difference" to his mortgage payments.

Elsewhere, Chris Rowley claimed that his economic situation is in such a bad way that the base rate changing does not make much of an impact overall.

The Bank of England' Monetary Policy Committee recently revealed that it will keep the base rate at 0.5 per cent for another month, with the last change having taken place in March last year.