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Base rate should ‘immediately be cut to -3 per cent’ – Star Letter 15/01/2021

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  • 15/01/2021
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Base rate should ‘immediately be cut to -3 per cent’ – Star Letter 15/01/2021
Each week Mortgage Solutions and its sister title Specialist Lending Solutions pick the top comment from our readers.

 

This week’s comment came from Paul Barrett, who was responding to the article: There are ‘lots of issues’ with negative interest rates – Bailey 

He said: “The Bank of England should immediately reduce rates to -3 per cent. If things start to get better, then increases can occur. 

“The UK economy is in the toilet being kept afloat by massive taxpayer subsidy of quantitative easing and furlough. These rates should be kept for decades just like they were in Japan.

“The government should do all it can to persuade people to get into debt and spend. Negative interest rates are needed to reduce costs for the consumer.” 

 

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