What about savers?

ONCE again the Bank of England has failed to take responsibility for inflation with a pathetic 0.25 per cent interest rate rise. It appears the bank is run by incompetent people who don’t know how the economy works.

JAMES BRADSHAW, London N12. AS An incentive to curb spending and decrease inflation, banks and financial institutions must be instructed by the Government to pass on the interest rate increase immediately to savers.

This will be an incentive to stop spending instead of punishing tax and interest rate rises. The banks want it all one way with interest rate rises on loans, but not on savings.

TIM JAMES, Penarth, Vale of Glamorgan. How long will savers have to wait for an increase in their interest rate? A lot longer than the swift mortgage increase. The annoying thing is that the banks always get away with it.

P. HARRISON, Brecon, Powys. Mortgage misery at 1.25 per cent interest rate? When I bought my house in 1981, the interest rate was 13 per cent.

RAY ADAMS, Bury, Lancs. Every action has a reaction, so putting up interest rates only piles on the misery for workers trying to put food on the table and keep a roof over their heads. The more pressure the Bank of England puts on mortgages, the more workers are going to demand higher wages.

S. T. VAUGHAN, Birmingham.