Renewed interest

Share this article
0
Have your say

Tucked away on page 20 (13 February) was the news that the key interest rate controlled by Sweden’s central bank has fallen to -0.1 per cent.

I take it that means we can strike Sweden from the list of Scandinavian countries the SNP wishes us to ape when Scotland is independent.

I would be pleased if someone could explain to me what a deflationary interest figure would actually mean to an ordinary citizen.

Will a bank pay me for the privilege of lending me money? Will I sit back and watch my credit card balance reduce on its own?

Or will the fat cats of Canary Wharf coin it in, while the rest of us a have to bail out the banks they stripped again?

I don’t know about you, but I sense that the finance industry is setting us up for another hit – but maybe by the time it happens we will have a government with the cojones to say: “No, not again.”

David Fiddimore

Calton Road

Edinburgh