Interest rates: Bank of England argues against increases as savers struggle – full details

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Sarah Coles, a personal finance analyst, reflected on these results and warned on the potential detrimental low rates could have.

Ms Coles said: “Half of us wouldn’t have the faintest idea what to do if we inherited investments from a loved one, and with one in three of us expecting to inherit something, there’s a reasonable chance that an awful lot of us will face this dilemma.

“If we don’t get to grips with investments, we could make some very expensive mistakes, 22 million people held stocks and shares ISAs in 2017/18, while millions more held shares, unit trusts, investment trusts and investment-based insurance products, so there’s a reasonable chance that anyone set to inherit could receive at least part of the legacy in investments.

“Unfortunately, 48 percent of people don’t feel confident they’d be able to manage them properly.

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