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With most of their bullets already fired, the Bank of England are exploring what further they can do to support the economy. For the last few months, there have been suggestions that they could be looking to move interest rates even lower and into negative territory. Let us just stop to think about what a negative interest rate means – it means you are no longer looking for a return on your deposit investments. You may instead be paying for your deposits to be looked after by banks. We will not need to wait long to find out, the next Bank of England meeting is on Thursday 5th November – an important date for the calendar.

If interest rates moved negative the return on cash investments is likely to be reduced again. It has already been announced by National Savings and Investment that they have cut the interest it pays on many of its savings accounts in November, slashing its top easy-access rate to just 0.01%. And Premium Bond holders will also have a much lower chance of winning a prize from December.

The need for financial advice and investment management support has never been greater.

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