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Poll: Half say savers made to pay for economic crisis

A Comres / ITV news poll has found that half of the public say that savers are being made to pay for the economic crisis. It also found a similar proportion say they are “frustrated” that interest rates have not risen in the past year (37%) as say that they are “relieved” (33%).

Twice as many people say that interest rates remaining at 0.5% has harmed their financial situation (39%), as say it has benefited their finances (20%).

The majority (55%) say that, by keeping interest rates low, savers are being made to pay for the economic crisis.

The Bank of England in London. Credit: Stefan Rousseau/PA Archive/Press Association Images

Two thirds (65%) agree, in the current economic situation, the Government is more concerned with protecting the banks than the British public, representing a six-month high. Pollsters spoke to 2,055 British adults online between February 28 and March 2.


Interest rates remain at 0.5%

The Bank of England have kept interest rates on hold at 0.5%, marking five continuous years at the historic low.

Bank of England
The decision was made in the Bank of England's monthly meeting, the 60th such meeting in succession to set them at this level. Credit: PA

Rates were slashed to 0.5% in March 2009 amid the depths of the economic downturn and have stayed there ever since, as monetary policy remains on "emergency setting".

39% of homeowners fear 'drastic' cut backs if rate rises

39% of mortgage holders say a rise in interest rates would require them to cut back drastically on other areas of spending to keep up with their mortgage repayments, according to an ITV News Index poll carried out by ComRes.

40% disagreed with the statement and 21% said they didn't know.

Bank of England Governor Mark Carney has pledged to leave interest rates unchanged until the level of unemployment falls to 7%.

Rate rise would put 26% of homeowners 'in trouble'

A little over one quarter of homeowners say they would face serious financial difficulty if interest rates rose, according to an ITV News index carried out by Comres.

50% disagreed with the statement, while 24% said they didn't know.

Interest rates
Interest rates would financially cripple one in four homeowners, the poll found. Credit: PA

One third (35%) of those polled said that if there was an increase in interest rates, it would have little effect on their finances. 49% disagreed with the statement, while 16% didn't know..

ComRes interviewed 2,043 British adults as part of the poll.


Osborne: Claims of Bank guidance failure are 'laughable'

Chancellor George Osborne has dismissed claims that the Bank of England policy of providing forward guidance has failed as "laughable".

Mr Osborne told Channel 4 News: "I think that is completely wrong. The idea that it is a failure because your unemployment rate is falling is laughable.

"The credibility of the Bank of England, of the British Government's economic policy is clear there in the markets."

Watch: Former BoE economist - 'Forward guidance was a fantasy'

BoE to make forward guidance decision 'next month'

ITV News Economics Editor Richard Edgar is listening to the Bank of England Governor Mark Carney at the World Economic Forum in Davos:


Mark Carney speaking in Davos says the Bank of England will decide how to "evolve" forward guidance next month. #WEF14


Carney says "the degree of stimulus will remain exceptional for some time" so low interest rates until the economy reaches "escape velocity"

Bank of England Governor: 'No immediate need to raise interest rates'

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