Following the base rate cuts announced by the Bank of England, Barclays has vowed to protect the savings accounts for its holders by withholding the interest rates and keeping them unchanged. The Bank of England made a record low base cut of 0.5%. Borrowers will also benefit by having the full rate cut at its mortgage business to tracker mortgages.  The managing director of Barclays for mortgages, current and savings accounts was quoted as saying: “Whilst mortgage holders are thrilled to see a historically-low base rate, savers are suffering – and it is important that the needs of
both groups are balanced.”

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Posted by Shue on March 21st, 2009 :: Filed under Barclays
Tags :: Barclays

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