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| Share Name | Share Symbol | Market | Stock Type |
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Posted at 13/3/2016 16:53 by cautious7 Hi'How Zero interest rates could actually raise mortages." See below full articel Many thanks C& ==================== 11 MARCH 2016 • 9:30AM Until late last year the expectation was that the next move by the Bank of England would be to push the Bank Rate up. But sentiment has swung so far that now the market expects, if anything, the rate to fall. At 0.5pc (where it's been since early 2009) there is not much room for reduction, so there are growing talks of Bank Rate dropping towards zero. Bank of England officials have insisted there is no suggestion that our Bank Rate could drop below zero, but that is what has happened in other countries - and it remains a possibility here. Predictions on rates, markets and more: get our weekly newsletter Negative rates are already in place in Switzerland, Sweden and Japan. And on Thursday the ECB cut its main Eurozone rate from 0.05pc to 0pc. So far the spiralling economic confidence has resulted in household mortgage rates falling for borrowers in Britain. This fall has been hastened by increased competition between banks to capture business. The graph, below, shows the dramatic plunge in two-year fixed DYOR |
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