FTSE and Base Rate rise on the cards, say over 50s
• Two fifths of over 50s think FTSE 100 Index will be higher at end of 2014
• More than half think Bank of England Base Rate will rise
• Men more positive than women about FTSE 100 increase
Britain’s economic recovery is close at hand according to many over 50s – who think both the FTSE 100 Index and Bank of England Base Rate will rise by the end of 2014.
A poll on behalf of the Saga Share Dealing Service*, of nearly 10,000 Saga customers, suggests the over 50s believe conditions are ripe for investing in shares.
The survey shows that more than two fifths (44%) of over 50s believe the overall value of Britain’s 100 biggest companies listed on the Stock Exchange will increase. More men (53%) think it will rise than women (32%), but overall just 3% of those polled said they think it will decrease.
More than half (53%) of those asked think the Bank of England Base Rate will also be raised by the end of this year. Although this may be more in hope as it would be a boost for many older people, who make up a large number of British savers that rely on their savings as a key source of income in retirement. The base rate has been held at 0.5% since 2009.
Andrew Strong, CEO Acromas Financial Services, commented: “The British public have been through the ringer in recent years, but the tide seems to be turning. This poll shows that many of our customers think things are looking up.
“The FTSE 100 Index is often used as a gauge of economic prosperity and hopefully the optimism expressed in our poll will be supported by figures at the end of this year.
“And if the Base Rate is raised, this will greatly benefit many over 50s, who will make extra income on their savings if a rise is on the cards.
Notes to Editors:
*Populus interviewed 9,685 Saga customers, all aged 50+, online between 16th and 23rd January 2014. Populus is a member of the British Polling Council and abides by its rules.
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