Well that will please some of you hopefully .

Not me!  My income will be down - AGAIN!

About time I went to see if I can get any benefits I think!

That is not so good then.  Without giving to much knowledge how does it affect your earnings?  Just out of curiosity

Savings!  I'm only doing voluntary work at the moment.   Thought I'd be financially independent and at my time of life, try to put back into the community but what I see doesn't suit me!   Time for change.

Good News for me, I've a 1% above base tracker mortgage so my cost of living is plumeting. 

Savings! Ah that makes sense.  Good to see at the very least there are still some savers. So many have no rainy day pot now..

You could maybe find something part time that will help your "pot" but that has some sort of "give back" also..  Not sure what at this min

I have a few Buy to Lets , 2 of them are on the normal standard variable as it has just not been the right time to secure a new deal especially the terrible mortgage fees just now and their existing deals had expired  hopefully something good will come along now, I am happy to take the cut in interest for them just now. 

Only one little down side is it may give too much confidence "too soon" and see a surge in spending approaching Xmas hopefully people will just be a bit more cautious and see what is really happening or inflation will take a big whack.

This is the best news ever, an early xmas present for sure! Thanks GB!! If only you'd acted a bit sooner!

Yep, I suspect you're right Blue.  They'll all go out and spend what they haven't got on stuff that they don't need for Christmas!

It doesn't pay to save and not expect the rest to look after you.

It doesn't pay to save and not expect the rest to look after you.  Your right there

I last year changed 2 of my buy to lets to Capital and interest and that is my savings hole now as I plan to hang on to these two long term.  I think one is 100% C & I and the other 50% Int and 50% C&I    It was probably a good move when I look back so I will hopefully see a better benefit in this announcement

We with you on a tracker mortgage and buy to let X2 luckily enough with no mortgages. I feel sorry for those with banks & B/S that opt not to pass the rate on.

My BS passed the last one on and it knocked a whopping £8 off the mortgage, so hopefully it'll be a bit more this time
Not such good news for savers though

> Only one little down side is it may give too much confidence "too soon" and see a surge in spending approaching Xmas hopefully people will just be a bit more cautious and see what is really happening or inflation will take a big whack.

That, I believe is the reason for the cut in interest rates - to get the public spending again and to boost the economy.  We are being urged to spend, if we can!  But with the exorbitant cost of gas/elec, I will be putting any savings in mortgage towards those bills.

That, I believe is the reason for the cut in interest rates  

Oh yes that is definately part of it   , I probably should have said that.  "we" have to meet our 2% inflation target, just a bit frightening so close to Xmas.   I think crippling business was also a huge factor for example just the day before interest drop the announcement of the serious slump in new car sales along with the state of the housing market.

Fingers crossed for a brighter 2009 I fear the impact of this year has still to hit many businesses next year.