Whether you are a saver or borrower you will be well aware that interest rates have been at historic lows – and for much longer than anyone predicted. So which way will they go next?
As Governor of the Bank of England, Mark Carney has the unenviable job of setting UK interest rates alongside the Monetary Policy Committee.
Inevitably every public statement by Mr Carney is pored over by financial analysts to see if he is giving any clues to future rate moves.
Take a recent article in the Telegraph headlined: “UK interest rate rise not a guarantee, says Carney”.
It said: “Mr Carney urged UK households to prepare for tighter monetary policy now. ‘If we think there is a prospect, a possibility – that’s a possibility not a certainty – of rate rises, then that is far, far better to let the British people know so they can prepare.’ he said. “
Any the wiser? As clear as mud? You wouldn’t be alone…
Perhaps the only fair conclusion is to take good advice and make sure you adopt an appropriate and balanced approach to your financial future.