No change for interest rate

The Bank of England has kept the interest rate at 0.5%, which experts believe will lead to fewer people saving their cash.

This is the 11th month in a row that the rate has remained unchanged and research from the Fair Investment Company shows that consumers' savings attitudes have been affected.

Of those questioned, 76% identified that they are not interested in investing in cash, mainly because of the poor returns which are offered.

The company's Head of Pensions and Investments Nick Scarrett said: "It is no wonder that most people looking to invest are steering away from cash in order to get better returns."

It appears that more people are turning to riskier assets in a bid to get better returns on their investments, as 76% said this is something they would consider.

The Bank also revealed this week that it would continue with its £200 billion Asset Purchase Programme.

Posted by Martin Ellis