Rising inflation is set to wipe out any gains made from last week’s base rate hike, creating more misery for savers.
Gatehouse Bank has increased the rates on its savings accounts by 0.25 per cent, in line with the recent base rate rise. All three of the bank’s existing notice accounts will be offering an extra 0.25 per cent starting from Friday 17 August.
New research from energy-switching service The Labrador has revealed the extreme measures that savers go to in an effort to avoid spending money.
Skipton Building Society has raised the interest rate on its Cash Lifetime ISA (LISA) and other variable savings accounts, following yesterday’s base rate hike.
After months of speculation, the Bank of England’s Monetary Policy Committee (MPC) voted to raise the base rate for the first time since November 2017.
Over the past nine years, the Bank of England’s Monetary Policy Committee (MPC) has only raised rates once. So why does this base interest rate even matter?
Retirees have seen the fastest growth in their disposable income over the past year, new data has revealed. By April 2018, the average retired household has a disposable income of £23,239, a rise of 1.45 per cent on the previous year’s figures.
Skipton Building Society has urged the government not to abolish the Lifetime ISA (LISA), despite a new recommendation from the Treasury Select Committee.
The Financial Conduct Authority (FCA) is considering setting a ‘basic savings rate’ to combat price discrimination in the cash savings market.
Savers who have kept £10,000 in cash over the past ten years have effectively lost out on £16,000 in returns, thanks to a combination of high inflation and low interest rates.
With interest rates at record lows, you may be struggling to earn a decent return on your savings. Are savings bonds the financial products that could offer you a better return?