A report being taken out by the experts at the Centre for Economics and Business Research (CEBR) for Saga, has alleged that low interest rates scheme being initiated by the Bank of England to revive the economy at the time of rising prices is hitting pensioners and the ones, who are the verge of retirement to its worst.

The analysts, who have taken out the report, have termed the combination of rising prices and low interest rate to be quite toxic. One of the strongest yet bitter claims being made by the analysts is that the scheme has forced the economy to go back into recession.

Elderly and pensioners have been forced to make cuts in their expenses of essential things. If to abide by the claims made by the report authors then the economy has suffered a loss of whooping £25 billion.

Report authors have warned that if more loss is not needed then a new policy should be introduced in the place of existing Quantitative Easing (QE), which is being run by the Bank of England.

Only one category has been found to be benefitted by low interest rates and this youth brigade. Low interest rates helped them through mortgage procedures.