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.
Will be interesting to see the call they make, I’ve no idea which way they will go
Only suprise for me is that they didn’t increase interest rates above 0.75%
One member preferred to maintain Bank Rate at 0.5%.