With real interest rates close to 0% people
Nominal interest rates on bank deposits are close to zero.
CPI annual inflation – the Government’s target measure – was 3.1 per cent in September, unchanged from August……RPIX inflation – the all items RPI excluding mortgage interest payments – was also 4.6 per cent in September, down from
4.7 per cent in August.
Real interest rates are minus 3-4%.