Any thoughts on today’s UK interest rates rise from 0.5% to 0.75%? Does it change anyone’s investing strategy etc?
I know that in theory this should encourage people to save more but as that story points out -
However, after the last rate rise in November, half of savings accounts [interest rates] did not move at all.
& even if the banks pass this on, I doubt the increase in rates will be very significant.
So for me, this doesn’t really change anything, there’s still lots of options that can earn you a bigger return if you’re willing to tolerate the risk
Well I was thinking of remortgaging, you can bet that mortgage rates move up a damn site faster than savings accounts.
Oh well I am still tied in for another year anyway.