Pressure from over 50’s to raise rates as new research shows two thirds of people say a rise would leave them better off
Commenting on today’s interest rate announcement, Dr Ros Altmann Director General, Saga said:
"The Bank of England continues to ignore what most of us can plainly see - that inflation is starting to get dangerously out of control. The latest data show that there is no sign of inflation abating, and the MPC has bottled its chance to make a stand against rising prices once again. Savers need respite from spiralling cost, and they need it sooner rather than later.”
Latest research from the Saga poll* of more than 12,000 people, found that three in five over 50s (61%) wish the Bank of England would increase interest rates in the coming months. When asked about the impact of such a rise on standard of living, 63% of people said an interest rate increase would leave them better off.
*The survey was conducted in March 2011 from the SAGA Populus Panel of over 12,523 people.
For more information please contact the Saga Press Office on 01303 771529