Base rate remains unchanged

05 February 2010

For the 11th month in a row, the Bank of England has opted to keep the interest rate at 0.5 per cent.

As a result of the decision, the Fair Investment Company found that people's faith in saving has been dented by the low interest rate environment.

Those with accountants' insurance may find that customers are not interested in investing in cash, as three-quarters of those questioned said this was the case.

Nick Scarrett, head of pensions and investments at the firm, said that with low returns on Isas and other products, "it is no wonder that most people looking to invest are steering away from cash in order to get better returns".

According to recent research from Moneyfacts.co.uk, 62 per cent of savings product changes on its website have been withdrawals.

This means that many of the best saving deals have now been taken off the market, it emphasised.

Click to compare quotes for professional insurance at Coverzones.com.

Posted by Peter Lane.

Insurance for Professionals News

10/03/10  Google Apps provides disaster recovery tool
10/03/10  Job advice to be more widespread
10/03/10  Recruiters facing a tough job
04/03/10  Firm predicts IT recruitment rise

©