Loose monetary policy has ‘annihilated’ returns on cash,but mortgage borrowers and investors bear benefitedSeven years of quantitative easing (QE) and record low interest rates bear cost savers an estimated £160bn, but supported strong increases in the prices of property, or stocks and bonds. Analysis by financial firm Hargreaves Lansdown suggests that up to £106bn is being held in accounts paying no interest,as loose monetary policy has “annihilated” returns on cash.
Continue reading...
Source: theguardian.com