The Top Easy Access Savings Discussion Area

Sg28

Im a little suprised, I thought they'd bottle it. 

baldeagle09

Half per cent base rate rise has shocked a few people

Sg28

baldeagle09 said:

Half per cent base rate rise has shocked a few people

Well it was 50/50 so shouldnt really be a shock.

km1500

Don't forget Nationwide raising savings rates by 0.1% in anticipation.

mlc2009

km1500 said:

Don't forget Nationwide raising savings rates by 0.1% in anticipation.

Meanwhile, instantly adding 0.6 rises to their mortgage products instantly

jaceyboy

5% then people, some decent returns coming I hope...

southone

Sg28 said:

Im a little suprised, I thought they'd bottle it. 

Me too, Committee voted by a majority of 7-2 to increase

SJMALBA

Sg28 said:

baldeagle09 said:

Half per cent base rate rise has shocked a few people

Well it was 50/50 so shouldnt really be a shock.

52/48, in favour of 0.5%, according to the Guardian this morning. 

Apparently, the two 'doves' on the MPC voted for no change; the remaining 7 members all went for 0.5%

TiVo_Lad

There was market talk this morning that going for 0.5% was validation that the BoE had lost control. They could have gone for 0.25% now and strongly hinted that there was another 0.25% to come at the next meeting, but perhaps they felt that stamping harder would have a bigger effect. It's really going to hurt those coming off a fixed mortgage or are on a tracker or SVR.

jaypers

Just had email from Charter:-

The Bank of England Base Rate has increased

Good news! We’ll be increasing interest rates on all variable rate accounts that are no longer on-sale on our website, following today’s Bank of England Base Rate increase.

The increased rates will be effective from 7 July 2023 and will be applied automatically to eligible accounts.

There’s no need to call us, as we’ll contact you soon with further details if your account is due a rate increase.