Two letters arrived on Saturday morning. One advised that the rate on our cash ISAs had dropped 10 days ago, the second that our mortgage rate will drop in 5 weeks time!.That's 45 days of profiteering... hug a banker today!

David, Bristol,

Simon,if banks had been half way sensible your mortgage should have been funded from savers deposits. No deposits- then no mortgage for you.
Surely you must see this.
Because banks did not operate on this principle is largely why the country is in a mess.

jackie, paphos, cyprus

"I have a £250,000 mortgage and need help"

Perhaps you shouldn't have borrowed more than you could afford then? And as for your 'Borrowers make the economy tick' comment, you're confusing 'debt' with 'wealth'.

The problem with the UK economy is DEBT. The only possible solution is REPAYMENT.

Jim, Exeter,

Reduce interest rates to drive the pound sterling down to help exports. Have I misunderstood the reasoning? Reduce interest rates because we do not want people to save. Give billions away to increase the rate of inflation which in the end eliminates debt. Can our MPs explain longer -term thinking?

Brian Lewis, Manila, Philippines

Like a hole in head !

Money will just flow from the country and inflation will go into orbit !


Ask any School boy !!!!

Bernard Parke ACIB, GUILDFORD, England

Those who want to see rates fall to 1% or less are mistaken. To make money too cheap can never be correct. There must be a "sweet-spot". My bother and i argue as to whether this is 3% or 2.5%! Lower than this there are no rewards for thrift. An equitable balance twixt borrowing and lending is needed

Justino Pinzón Águilar, Ronda, España

If you look at the history of the interest rate, it has generally fallen year on year since the 1980's peak. Now with housing needing stimulation rates should drop to between 2.5% and 3% by this time next year. I cant see a massive recovery from there either. High will be 4% due to house price rises

Michael, Manchester, UK

Lower interest rates will continue to devalue the piound compunding infaltionary pressure. Reducing Interest rates wont help those with mortgages, Bansk will pocket diff themselves. 1% interest rates haven't helped stabilse US housing market which continues to fall as does UKs.

Darren, London,

Simon – Crawley, tough one; you probably borrowed too much in the first place. Take your medicine and stop expecting others to bail you out. You made your choice to buy; now live with the consequences and don’t blame other people or have others (savers) suffer because of your greed. It’s disgusting.

pd, Bristol,

Here we go again, all the so called "expert economists" crawling out of their ivory towers to tell us the solution. Where were they two years ago when it was obvious the spend, spend, spend crowd were rampant. The sooner they shut up and get on with it the better.

Tomas, Alicante, Spain

We need firmer state regulation of banks. They MUST pass on rate cuts, otherwise whats the point? Now they are being nationalised they must be held to account. No bonuses, reposessions, or sky high lending rates. Banks will try and wriggle out of any obligations but still go to the govt cap in hand.

Lucas Tatek, Herts., uk

When are poeple going to wake up to the fact that the whole monetary system is a cruel hoax ! Simple truth is that the banking system manufactures money out of nothing. People have to get to theire senses. For a crash course on how Banksters make theire money see Money as Debt ( google vidoes )

Zeci, Athina,

A rate cut would be useful, but will have limited effect.
For those of us who spent the last few years making a parachute its time to put them on. Even the tatty ones will offer some protection.
For everyone else.. See that big flat hard thing rushing towards you?

Rex Lester, Surbiton, UK

Slash rates now. I have a £250,000 mortgage and need help. I don't care about savers who are smug about not having a mortgage and 'live off their savings'. They don't spend much anyway. Help is needed for those that make the economy tick ie borrowers.

Simon, Crawley,

Brown: “Inflation is . . . coming down over the next few months."

With the pound having fallen almost 25% in the last month and economists expecting it to drop further? Yeah, right.

Leo, York, UK

I wish the Government would put pressure on the banks it has bailed to pass on any interest rate cuts. The Northern Rock rate standard variable rate is one of the highest on the market and in the current mortgage climate many of us simply cannot get mortgages anywhere else.

Angela Denares, London,

And what happens when they cut rates to zero? What will they do then? It didn't work in Japan, it won't work here! Interest rates should be above the rate of inflation, not below! Stop trying to bail out those who've overspent and do your job properly Mr Brown et al.

Andy, Bath, UK

All the hoop-la about inflation and independence of the BOE has gone out of the window. let's just cut the base rate to zero and be done with it.

Hamad Lone, London, England

What about the savers who rely on interest to help pay their way ? If you don't have savers Banks won't have money to lend.Everytime rates drop so does the pound and imports get dearer !The vaste army who put something aside for their old age have been badly treated.Rates should go up, not down.

Mike, Dunstable, England

It's all well and good base rate being cut by 0.5% but my building society rewarded me with a cut of 0.2%. Come on Mr Brown you must force them to follow suit and not line their own pockets.

Lewis L Frame, Doncaster, South Yorks

cutting interest rates should help reduce peoples out goings, but dont force the banks to match last years lending.

if you want to help people why dont u cut income tax and corporation tax, that will help people an awful lot more. but no uve bankrupted us havent you gordy so you cant cut tax.

will, grimsby, uk

When will Brown wake up. The banks are still running the show with our money. Tell them to pass reductions on or else.
As the taxpayer controls half of them.

Alan, Yorkshire, England

borrow your way out of trouble - isn't that what caused this problem in the first place?

Mr Brown seems intent on leaving the new Conservative government with a bankrupt economy.

Mike, Sole Street, England

Yet again the fiscally prudent, who have saved for a rainy day, will be bailing out the profligate spenders who haven't.

Paul, Coventry,

The problem for bank lending is the 12 percent coupon on the Government PIBS or bonds.
The banks have to charge a borrowing premium in order to pay that.

Howard, Chester,

Lowering interest rates to reduce the effects of the recession? While everyone is looking at the banks/interest rates.We have definitely taken our eye off of the energy companies, who continue to increase charges to both the public and businesses. How much is this affecting confidence and spending?

paul harris, Edinburgh,

No escape from NEW Labour, I am an Expat living in Thailand, the exchange rate is now on 53 baht for 1 pound. December 07 it was 71 baht. Not only have Labour messed up everyone in the UK they are now trying to finish off the rest of us with the help of the Bank of England. LEAVE RATES ALONE!!

John, Bangkok, Thailand

Odd that Brown has now chosen "the responsible couirse" (hic!) after ten years of totally irresponsible governance!

Chris, Worcester,

What's the point of rate cuts when the banks e.g. Abbey etc. keep the rate cut for themselves and refuse to pass it on to their customers?

Anders, London, UK

A further cut in interest rate is long over due. Of all the options out of this mess, it still the best. Nothing much can restore the confidence and trust in the financial market than to achieve some level of equilibrium between cash inflows and outflows which is highly inbalance at the moment

Obidike Onyedibe, London, England