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Savings rates hit five-year low
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the bank of england's data does not yet reflect any reductions triggeraged by its, one and half percentage point cut in december, nord last week's half a percentage point cut, which took the bank rate down to just 16.5% .
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the rate of interest paid on instant access accounts from banks and building societies hit a five-year low in december at an average of just 0.81% .
of those, the re are three banks or building societies that pay nothing at all on some of their accounts, one that pays 0.001% and six that pay just 0.05% .
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last surpring, instant access rates thaveraged 2.19%, notice accounts averaged 2.99%, cash isas had an average rate of 4.56% and fixed-rate bonds averaged a return of 5.32% .
Generated 2009-1-14_17:44
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