NatWest have just cut the rate on my 'savings account' to 0.01%, won't be saving a lot then! Mark Carney is trying to stimulate the economy by making it pointless to save and cheap to borrow. Spend now, suffer later. One might have hoped for greater creativity, balance and wisdom from the governor of the Bank Of England, but who knows what political pressure is applied?
Of course Mark Carney might have hoped for greater wisdom from the British people too. When no one has any savings left and the vast majority have unsustainable debts and China owns everything, then perhaps we'll wake up. Well maybe.
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