Even in recession the rich get richer: Savers have been hit for £70bn as printing money 'helps rich' admits Bank of England [1]

Mail Online
Hugo Duncan, August 23, 2012

The Bank of England has admitted that low interest rates have robbed savers of £70billion

Record low interest rates have robbed savers of more than £70billion while printing money to revive the economy has mainly benefited the rich, the Bank of England admitted yesterday.

Interest rates have been pegged at 0.5 per cent since March 2009 – the lowest level in the Bank’s 318-year history – in an attempt to prop up the economy.

To read the rest of this story, visit dailymail.co.uk. [2]