Savers should beware as rates fall

Interest rates are coming down on many savings accounts following the Bank of England cut on Thursday.  But although the base rate fell by just a quarter of a percentage point, the rates on some savings accounts have come down by far more.  Newcomer Kaupthing Edge, however, has thrown down the gauntlet by declaring that it will not cut the 6.5% rate on its table-topping easy-access account. ICICI, which pays 6.41% to HiSave customers, Bradford & Bingley (6.40%) and Icesave (6.40%) have yet to reveal whether they have the stomach for a fight.  Watch this space!