Will high interest savings rates begin to rise again?

vaporate

http://www.creditchoices.co.uk/when-...tes-go-up.html

What is your view?

Discuss

noh

Why are you copying contents of other websites without acknowledging the source?
Surely you should post a short extract and a link?
http://www.creditchoices.co.uk/when-will-interest-rates-go-up.html

vaporate

Thanks Noh, now edited to a slightly better post.

Thoughts and opinions welcome.

Hungerdunger

vaporate wrote: »

At one extreme, some experts believe....

At the other end of the scale, another set of experts believe....

I think that says it all. If the "experts" haven't got a clue what is going to happen, is there really much point asking the rest of us for our opinions?

vaporate

Hungerdunger wrote: »

I think that says it all. If the "experts" haven't got a clue what is going to happen, is there really much point asking the rest of us for our opinions?

I believe there is.

It's always fun to speculate, especially if you have a fairly large sum of £5k or more to save.

It's also important for those retired and who live off interest on savings.

Paul_Herring

Will high interest savings rates begin to rise again?

There aren't any, but I'm hoping the low ones will soon.

vaporate

The title was meant as a past tense. A joke.

It is extremely annoying though with such low rates.

nilrem_2

Hungerdunger wrote: »

I think that says it all. If the "experts" haven't got a clue what is going to happen, is there really much point asking the rest of us for our opinions?

Of course there is a point, this is a discussion forum and it is interesting to hear what other savers think may happen to interest rates, just because experts "don't have a clue" does not prevent non experts from expressing an opinion?

(Just remember not to base your financial management on stuff you read here.)

bendix

Interest rates are NOT low. The gap between retail interest rates (those you can get if you are inquisitive and shop around) and the inflation rate are higher now than they have been for decades.

nilrem_2

vaporate wrote: »

I believe there is.
It's always fun to speculate, especially if you have a fairly large sum of £5k or more to save.
It's also important for those retired and who live off interest on savings.

Well I would like to think that the BOE rate will start to rise early next year, probably after May when the General election has taken place, my view is that it will be a slow rise and it will be quite some time; perhaps many years before the rate reaches the 4% - 5% mark, I imagine that rather then the 0.5% steps taken downwards it will increase only in 0.25% amounts. Of course anything is possible and some event could cause a sudden massive rate increase but in the absence of this it will be very slow progress upwards IMHO.

ed123_2

.....If base rate increases in the second half of next year it does not automatically feed on to all retail rates.....ie it may affect the instant access account paying 0.1-0.5% now but on the fixed rate area (the best I can see at present is YorkshireBS's 5.3% five year account which is 4.8% higher than base rate at 0.5%) it may not impact that much. When base rate was at 5% the best rate then was KE fixed at 7.67% ie 2.67% above base rate......also 3 month libor has come down to near 0.5% .