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Tag: A smart approach to short-term saving NEWS TODAY

BUSINESS: A smart approach to short-term saving.

BUSINESS: A smart approach to short-term saving.

Business, WORLD
There was good news during the week when two banks announced mortgage rate cuts. Borrowers are now the happy victims of a price war between lenders which, if they are in the market, is great. But in the swings and roundabouts world of personal finance, what's good for the goose definitely misses out the gander. Savers, who haven't had much luck in the past decade or so, find themselves once again at a loss. You'd imagine, in an environment of not only zero returns but negative growth (once you take inflation into account, it's costing savers to keep their money on deposit), they'd be withdrawing cash in droves and sending it elsewhere. In actual fact, we're increasing our savings, with around €100bn in banks, post offices and prize bonds. Household net worth now exceeds t...