Interest rates just got cut.

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Some folk, notably reporters, are getting somewhat aroused by the fact that the Bank of England has cut its interest rate to 4% from 4.25%. Bless them. For me that’s good and bad. I have a mortgage whose rate is fixed for two years and the two years are up next month. So I’m looking for a new deal and mortgage rates are now falling. Of course speaking as a borrower they’ll never fall far enough but there you go. On the down side my savings are going to take a hit as the banks will reduce the interest they are offering and with inflation at 3.6% I’m not likely to earn enough interest to offset inflation so in real terms I’ll be losing money. So I’ll have to look for a new home for my savings. It’s all so bothersome. How are you’re interest rates doing?