Reply To: Grim currency prediction



@El anciano wrote:

I guess I’d better put my pounds into a long term savings account though ūüôĀ

I’m thinking about this. I can see that the UK government will slash base rates to zero but will the banks follow them? They can’t raise money through the money markets so deposits should be of value to them. That’s why I don’t want to commit my money now for long deals that offer base rate plus 1%, for example, because I think that the banks will have to offer better deals next year to get deposits.

Of course I could be wrong but I don’t feel that now is the right time to commit and I’d prefer to be flexible because God knows what’s coming next. Scarey, innit?