On 27/02/2013 11:55, Nick Odell wrote:
On Wed, 27 Feb 2013 07:21:58 +0000, Nightjar
wrote:

On 27/02/2013 06:43, harry wrote:
....
If you have any money, the government will steal it by QE and now
they're thinking about negative interest rates.

Negative interest rates only for banks, in order to encourage them to
lend money.

Everything the government/BoE has done so far[1] has, in the long run,
had a negative effect on consumer savings and I have no reason to
think this will be any different.

It probably isn't very good news for savers in the short term. It may
well result in higher bank charges and lower interest rates for savers.
However, if it manages to stimulate the economy by increasing lending to
business, it could be a good thing in the long term. Unfortunately, it
is virtually unknown territory and there is no certainty that it will
have the desired effect.

Colin Bignell