Taking Action ... Save Our Savers vs the Bank of England's MPC

Protesters Save Our Savers

Target The Bank of England's Monetary Policy Committee

Location The Bank of England

Date 6 October

The lowdown

Angry campaigners stood outside the Bank of England on London's Threadneedle Street and smashed a papier-mache pig with a mallet. This followed the MPC's decision not to increase interest rates.

Why the protest?

The bank has held its base rate at a historic 0.5 per cent since March 2009, affecting UK savers, with the average instant access account paying just one per cent. Inflation has increased to 4.5 per cent on the consumer prices index (August figure), which is vastly above the Government's target of two per cent. Pensioners are worst off, according to Age UK Enterprises research, as they face additional living costs amounting to £984 since 2008. This is because they spend more on the essentials such as food and fuel.

How did the Bank of England respond?

The Bank of England's governor Mervyn King said: 'I have enormous sympathy with the predicament that savers face. They are suffering from the consequences of an economic crisis that they did not cause or are responsible for.'

How did the media cover it?

The protest was covered across national print and broadcast media including the London Evening Standard, Reuters, The Daily Telegraph, the Financial Times, Channel 4, ITV and Sky News.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

Max Clifford trial jury finishes sixth day of deliberations

Max Clifford trial jury finishes sixth day of deliberations

The jury in the trial of celebrity publicist Max Clifford on 11 charges of indecent assault has been sent home and will reconvene tomorrow morning for a seventh day of deliberations.

Analysis: Fishburn chiefs keep eyes on future despite mounting departures

Analysis: Fishburn chiefs keep eyes on future despite mounting departures

Fishburn's management have defended their reinvention of the 23-year-old agency amid industry mutterings, fed by a series of director-level departures, about the direction in which it is going.

Hit or Miss? EasyJet backs Shakespeare Day campaign with world record attempt

Hit or Miss? EasyJet backs Shakespeare Day campaign with world record attempt

EasyJet aimed to break the world record for the highest ever theatrical performance for Shakespeare's 450th birthday yesterday with the Reduced Shakespeare Company performing on a flight from Gatwick to Verona.

Top PRs to gather in Barcelona for inaugural PRWeek Global Congress

Top PRs to gather in Barcelona for inaugural PRWeek Global Congress

Senior executives from IBM, Nestlé, Vedanta, GE, Cargill, Philips and Allianz will be among the speakers at PRWeek's first Global Congress.