Bank of England Record Breaking Interest Cuts

The video discusses the impact of Mark Carney's rate cut, intended to boost spending. Business managers see it as a chance to grow, while consumers remain cautious, fearing reduced savings interest. Savers like Jan Short face challenges, but homebuyers like Matthew Poppy benefit from better mortgage offers. Despite these changes, consumer confidence has dropped significantly since Brexit, indicating that more than a rate cut is needed to stimulate spending.

In what way do lower rates benefit individuals who have already saved a deposit?

What factors have contributed to the drop in consumer confidence since Brexit?