Savings interest rate thread
Discussion
Rufus Stone said:
Whistle said:
Just opened 2 of the nationwide accounts in mine and my wife’s name and filled them.
At least that’s 5.5% fixed for 18 months.
Good isn't it. Even if you have to pay a little tax on it, it's beating inflation easily.At least that’s 5.5% fixed for 18 months.
By the time the election campaign gets going inflation will be down to 0.1% or even less
![wink](/inc/images/wink.gif)
ThingsBehindTheSun said:
Just had an email to say my Marcus interest is going down from 4.75% to 4.55% on the 15/06.
Sure sign rates will fall at the June interest rate meeting?
With the upcoming general election, there seems to be a growing consensus that the MPC wouldn't announce a rate change in June (because the BoE wants to be seen as totally apolitical). Nothing's been confirmed yet, though.Sure sign rates will fall at the June interest rate meeting?
Rufus Stone said:
If you bank/save with Nationwide, you can now get 5.5% pa fixed for 18 months. Sadly, maximum £10,000 though.
Thanks for the heads up I missed this one.Even though it's a small consolation considering inflation but I take great joy at still being on a 1.4% mortgage fix whilst being able to get 5.5% on savings.
Tim Cognito said:
Even though it's a small consolation considering inflation but I take great joy at still being on a 1.4% mortgage fix whilst being able to get 5.5% on savings.
+1I’m fixed on a no fee 1.23% until Feb 2027… meanwhile various savings accounts are sitting on 5.1 - 5.66%.
Probably a unique situation in history to have such circumstances and I’m making the most of it while it lasts.
Sure there are potentially greater returns elsewhere, but I’ll settle for the risk free 5%+
C69 said:
With the upcoming general election, there seems to be a growing consensus that the MPC wouldn't announce a rate change in June (because the BoE wants to be seen as totally apolitical). Nothing's been confirmed yet, though.
Market view has gone out to September now. We’ve just gone through a forecasting cycle to update our Bank internal assumption to August. C69 said:
With the upcoming general election, there seems to be a growing consensus that the MPC wouldn't announce a rate change in June (because the BoE wants to be seen as totally apolitical). Nothing's been confirmed yet, though.
Surely if they want to be seen as apolitical they would continue as normal and just to their supposedly independent job.Opened an instant access acount with Wealthify this morning. Currently offering 4.91% but this will track bank rate.
I came across Wealthify about 18 months back via a MSE article where for a £50 deposit Wealhify would add £50 12 months later....they did....and I also introduced my mate Fat Derek to them and won a further £100!
![biglaugh](/inc/images/biglaugh.gif)
I came across Wealthify about 18 months back via a MSE article where for a £50 deposit Wealhify would add £50 12 months later....they did....and I also introduced my mate Fat Derek to them and won a further £100!
![biglaugh](/inc/images/biglaugh.gif)
ferret50 said:
Opened an instant access acount with Wealthify this morning. Currently offering 4.91% but this will track bank rate.
I came across Wealthify about 18 months back via a MSE article where for a £50 deposit Wealhify would add £50 12 months later....they did....and I also introduced my mate Fat Derek to them and won a further £100!
![biglaugh](/inc/images/biglaugh.gif)
£75 cashback due next month for a £75 investment for me:I came across Wealthify about 18 months back via a MSE article where for a £50 deposit Wealhify would add £50 12 months later....they did....and I also introduced my mate Fat Derek to them and won a further £100!
![biglaugh](/inc/images/biglaugh.gif)
![](https://i.imgur.com/YOnxAysl.png)
981Boxess said:
Out of interest (see what I did there) what assumption are you working to BOE rate wise?
1st cut to happen in August and then two further 25bps cuts in 2024 to take rate to 4.50% by the end of the year. We use a particular economics/data provider that in my view is far too dovish. I would tend to agree with the market and see September as the first potential cut, maybe even later depending on what happens with election and so on.
Always like looking at the below type graph to be in no doubt that we’ll always be wrong!
![](https://i.imgur.com/qNWIqm2.jpeg)
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