Stuart Law, CEO at Assetz Capital

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“With growing uncertainty around the UK’s withdrawal from the EU, this announcement comes as no surprise. Despite the recent rate rise and expected slight boost in UK economic growth for the third quarter, it’s likely that we’ll continue to see a largely stagnant economic situation, at least until March next year.

“Even if, after this wait, the Bank of England’s promise that rates will rise further holds true, any benefits are unlikely to be passed on to savers. It was recently reported that many banks only applied this summer’s recent increase to borrowers, and there’s no indication that this would be different next year.”

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EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’

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