Bk of England's King says further rate cuts may be necessary

[baypond]

So we may be entering an era of 0% rates, and quantative easing (BOE flooding the economy with money) to reflate the economy.

I do feel sorry for anyone that relies on saving's interest for income. It is a nightmare, but just shows we are in unchartered waters now, and at least the authorities are pulling out all the stops to try and arrest the decline.