Interest Rate increase

Cardew

Well the 'Government'(BofE) announces an interest rate increase of 0.25% and I just received a letter saying the Government - well National Savings(NS&I);) - are reducing their ISA interest next month by 0.25% from 1% to 0.75%.

harz99

Zanderman wrote: »

Er, the rise IS only 0.25% What is this 'full 0.5%' of which you speak???

Wishful thinking....

harz99

rangersfc wrote: »

Hello harz99,
Could you please clarify your statement re only giving savers .25%. Is that not the full increase in rates?
Regards,
mrwmartin

It is, my bad. Sentiment is the same though, I wonder how many will actually pass on the full .25%.

[Deleted User]

harz99,
Thanks for reply, thought I may have missed something.

Cheers
mrwmartin

redandwhitestripes

kidmugsy wrote: »

How odd of YBS to issue a new Regular Saver on the very day when an announcement was expected.

Even offer that they have reduced their Single Access saver rate to 1.15 today.
It was 1.35, then down to 1.2..

Bye bye YBS from me.

intalex

Coventry Building Society's new rates are published on their website now, with rates being effective 1st Sept.

The Limited Access Saver has got a 0.15% uplift to 1.55% now, but the account isn't appearing available for new applications now.

isasmurf

intalex wrote: »

Coventry Building Society's new rates are published on their website now, with rates being effective 1st Sept.

The Limited Access Saver has got a 0.15% uplift to 1.55% now, but the account isn't appearing available for new applications now.

The Easy Access (online) and Limited Access accounts receiving the interest rate increase were withdrawn from sale last week when the new rates were published. They were both immediately replaced with Issue 2 paying the same rate as the withdrawn issue but will not receive the interest rate increase.

intalex

Anyone know what's the normal timing for NS&I to "react" after a rate change?