delusionofgrandeur

National Savings and Investments have cut their guarantee rate (the amount of interest paid above the Bank of England baserate) from 0.55% down to 0.30%. The lower rate will be in effect from the 6th of April.

I can’t quite work out the logic in this as the Treasury is pretty much strapped for cash and yet cutting the Direct ISA rate will undoubtedly lead to savers withdrawing their ISAs for higher yield investments.

This entry was posted on Monday, March 10th, 2008 at 4:40 pm and is filed under Economy, News.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.