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Households put aside record monthly savings

The average British household saved almost £300 per month in the three months to September, the largest quarterly amount on record, according to Office for National Statistics data.

The figure is the largest monthly amount since records began in 1963, although it does not take into account the impact of inflation.

Households saved an average 8.6p per pound of their disposable income each month over the period, compared to 7.6p in the second quarter or 0.9p over the same period in 2008.

The total sum saved by British households was £21.4bn over Q3, compared to £18.6bn in the second quarter and just £2.2bn in Q3 2008.


MPC was unanimous in holding base rate

All nine members of the Bank of England’s monetary policy committee voted unanimously in favour of maintaining the base rate at 0.5 per cent and continuing with the £200bn quantitative easing programme.


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