Savers and investors brace themselves against interest rates crashing to zero

The uncertain outlook caused by Brexit for savers and investors alike could hit another milestone with the Bank of England forecast to slash interest rates to as low as zero this week.

Governor Mark Carney has said the economy is already showing signs of strain since last month's vote in favour of leaving the European Union, and signalled the Bank would respond this summer.

With Bank rate at 0.5% — the lowest in the Bank's 321-year history — the governor is heading deeper into uncharted territory. Investors are now betting on a cut to 0.25% on Thursday.

Many economists also expect the Bank to restart the money-printing quantitative easing (QE) programme this summer.

Falling interest rates could prove good news for mortgage holders but the news is unlikely to be as well received from cash savers.

According to The Sunday Times, the best instant access cash ISA is sold by the Coventry Building Society, which offers 1.3% in annual interest with a £1 minimum deposit.

The Mail on Sunday adds that the Clydesdale Bank has the best rate for variable rate cash ISAs, offering 1.5% in annual interest, although the minimum deposit is £15,000 with a 40-day notice period for withdrawals.

Meanwhile, HSBC offers the best fixed-term mortgage at 1.39% set over two years, according The Observer.

For the cheapest tracker rate Tesco sells a mortgage at 1.39%, although this product demands a 40% deposit, said The Sunday Times.

Tim Martin, the founder and chairman of pub chain J D Wetherspoon, was one of the most prominent business figures pushing for Brexit, said The Sunday Telegraph's Questor column.

But now the chairman has got what he wanted – and with a trading update due on Wednesday, attention has switched back to the company's pressured finances and what Brexit means for the UK's leisure industry.

The paper says the 920-strong chain is battling margin pressures on its food and drink from rival pubs and cheap diners.

It said that while like-for-like sales lifted 3.8% in the 13 weeks to April 24, its operating margin still fell to 6.4% from 7.5% a year earlier. Its view is sell.

The Mail on Sunday's Midas column said stocks in gold miners such as Centamin have rocketed since June's Brexit vote, as investors look for safe havens.

In normal times, when a stock has more than doubled in less than nine months, it may be time to take some profits, said Midas. But these are not normal times. Gold is on the rise and related stocks are benefiting. Investors who bought last year should hold. New investors could keep an eye on this one and dip their toes in if the share price shows any short-term weakness.