Watch Lunch Money on what the Bank of England decision means for people
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The Bank of England maintained the base rate again today, the fourth time since September.
Rates have almost certainly peaked this cycle, but are stuck at 5.25 percent; However, mortgage and savings rates have fallen substantially.
In this episode of Lunch Money, Lee Boyce and Simon Lambert discuss what maintaining the base rate means for borrowers and savers.
They discuss whether mortgage and savings rates will continue to fall and when the Bank of England might cut.
Peaking: How the Bank of England’s base rate increases have stabilized
A rate decision was also made last night on the other side of the Atlantic, with the US Federal Reserve also holding rates on hold. But for investors it’s less about what the Fed did than what it said.
Interactive Investor’s Victoria Scholar explains the Fed’s decision, the market reaction, and what rate expectations mean for investors.
And finally, it’s the first of the month, so it’s premium bonus day – we reveal what we know about the savers who scooped the £1m prizes in February.
Lunch money