What might happen in the future?
There are rumblings that the base rate will be cut again in the not too distant future.
In theory the base rate could go into negative numbers as it has done in some European countries. If they did what would the impact be? It would be unlikely that savings accounts or ISAs would be impacted however it could spark a change to current accounts and business customers, and those with mega bucks may be hit.
Of course – when it comes to your mortgages and credit, don’t expect the interest to suddenly vanish. Interest rates on lending are generally set higher than the base rate (even if they do track it) so it’s unlikely to ever fall far enough below 0 to mean the bank pays you– bad luck.