Six years of flat interest rates has cost savers £130BILLION: Figure equates to £5,000 for every home in the UK

‘Savers have missed out on £130billion of interest payments as a result of ultra-low rates – around £5,000 for every household in the UK – a report reveals today.

The Bank of England slashed interest rates to a historic low of 0.5 per cent in March 2009 at the height of the Great Recession.

Almost exactly six years on, figures lay bare the crippling impact low rates have had on prudent households, including many pensioners and hard-working families.’

Read more: Six years of flat interest rates has cost savers £130BILLION: Figure equates to £5,000 for every home in the UK