Banks offering fixed-rate savings may cut their rates in response to the Bank's review, the expert has warned
Martin Lewis has issued an urgent warning for people with savings telling them to act 'this minute' following the Bank of England's latest interest rate decision.
However, while for many the decision to not raise interest rates will be seen as a positive thing, money saving expert Mr Lewis has urged savers to take action now as it could backfire for them. Because of this, Mr Lewis is advising those looking to lock in a fixed rate to act as quickly as possible to earn as much on their savings as they can or risk having to settle for lower rates - which could be introduced as soon as today, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: