Interest rate question
Discussion
I'm being purposefully quiet because my heads all over just now - however...
I'm curious about interest rates - what real difference does the Bank of England base rate make when inter-bank lending rates seem to be what determines everything mortgage rates, etc?
You hear about "The base rate going down", but then yesterday on Radio 4, I heard that inter-bank rates have gone up by a full percent.
Am I missing something?
(Am I better off getting all my money and shoving it under the mattress? - Well, more like stuffing a fiver in my back pocket really...)
I'm curious about interest rates - what real difference does the Bank of England base rate make when inter-bank lending rates seem to be what determines everything mortgage rates, etc?
You hear about "The base rate going down", but then yesterday on Radio 4, I heard that inter-bank rates have gone up by a full percent.
Am I missing something?
(Am I better off getting all my money and shoving it under the mattress? - Well, more like stuffing a fiver in my back pocket really...)
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