Long-term interest rates at nine-year low

The report said savers were the "forgotten victims" of the credit crisis as the Bank of England said the average interest paid on time deposits and savings accounts - such as one year bonds - had fallen from 2.06% to 1.85% in the past month. It added this was the first time the figure recorded by the Bank had dropped below 2% since current records began in 2004. The report said industry commentators blamed the government's Funding for Lending scheme, which is designed to flood banks and building societies with cheap money, in the hope its passed on to small businesses. It added while le...