(1888PressRelease)
May 22, 2007 - The hike in base rate has most certainly affected the interest rates in the loan market. Financial experts and consultants from banks are of the opinion that Britishers will settle in with this state of affairs and one of the first noticeable change will be on the saving pattern of the population.
Here is a common assumption that there is going to be an uptake in the number of cash saving options available as against fixed bond rates. However, the consumer base is supposed to remain the same.
Last year the financial prediction was that the next base rate change would be downward. As a result, many people started buying fixed rate bonds to take advantage of the base rate while it was still relatively high.
However, now there is no chance of the base rate going down. For the next 6 to 8 months, the base rate can only go higher than its present one.
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