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Will interest rates go up over the next 5 years?

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Have they been artificially kept low whilst the Tories were in office over the past 5 years? If so, will they continue to remain the same over the next 5 years?

Edited by poppet2

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They did say that they would be going up, but that is when they thought Labour would be in power.

Edited by El Cid

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Probably, and really they should have gone up before now. I guess outside factors ie what happens around the world will govern decisions too.

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If so, will they continue to remain the same over the next 5 years?

No, judging by historical precedent. Rates will eventually rise- but nobody knows when.

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Only when global demand recovers. Still, Japan had record low interest rates for 10+ years when they had a similar situation.

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The interest rate is not set by the government (regardless of who is in power)

The bank of England is better equipped to decide so they have the power.

In my opinion, it will go up, it has been so low for so long it will rise.

The low rate has helped so many people with mortgages and debt to stay afloat and even keep their homes, but at a cost.

The older folk who rely on savings to supplement the pension have been totally <SWEARING DELETED>.

Saying that, the present government have introduced a savings account to give them some hope while rates are low.

]Moneysupermarket say it's a good time to fix your mortgage so they must think that an increase is on the cards, but they said that last year :)

Edited by Jeffrey Shaw
Swearing snipped

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Mark Carney does not have a clue himself. One day he gives of hints and signals it will the next day warns they will be low for the foreseeable.

 

My 2 cents it will rise within 5 years, I suspect we will see rises before early 2016.

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The interest rate is not set by the government (regardless of who is in power)

The bank of England is better equipped to decide so they have the power.

In my opinion, it will go up, it has been so low for so long it will rise.

The low rate has helped so many people with mortgages and debt to stay afloat and even keep their homes, but at a cost.

The older folk who rely on savings to supplement the pension have been totally <SWEARING DELETED>.

Saying that, the present government have introduced a savings account to give them some hope while rates are low.

]Moneysupermarket say it's a good time to fix your mortgage so they must think that an increase is on the cards, but they said that last year :)

 

Except you have to be over 65 to buy in, and that leaves all us women pensioners retiring between the ages of 60 and 65 out in the cold again, struggling to make ends meet.

 

And by the time we are 65 the offer will have been withdrawn.

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Except you have to be over 65 to buy in, and that leaves all us women pensioners retiring between the ages of 60 and 65 out in the cold again, struggling to make ends meet.

 

And by the time we are 65 the offer will have been withdrawn.

In fact, the 65+ Bonds are being withdrawn after this coming Friday- 15 May!

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