The Top Easy Access Savings Discussion Area

vernon

Chuckle! Some savings providers got caught out by the BOE surprise announcement of an increase to 5%. Marcus springs to mind of a pre-prepared statement of an increase the day before BOE met. Other providers, eg Coventry's alleged, proposed statement, had their increased rates based on 0.25%. Now they had to have a rushed meeting to re-think. Hence the use of the bandied about word 'soon'. Disgusting that most are raising their rates in JULY!  

Zopa_Trooper

Kroo current account up to 4.1% from 1st July.

EssexHebridean

vernon said:

Chuckle! Some savings providers got caught out by the BOE surprise announcement of an increase to 5%. Marcus springs to mind of a pre-prepared statement of an increase the day before BOE met. Other providers, eg Coventry's alleged, proposed statement, had their increased rates based on 0.25%. Now they had to have a rushed meeting to re-think. Hence the use of the bandied about word 'soon'. Disgusting that most are raising their rates in JULY!  

Marcus's "Standard" over the past little while has been to announce an increase the day before the B of E meeting - seeing the message from them yesterday didn't come as a huge surprise to me at least. 

as for "JULY!" it is only 8 days away...

KTF

YBS will be increasing the rates on their variable accounts 'soon'.

https://www.ybs.co.uk/boe-rate-change

Rheumatoid

pecunianonolet said:

MikeJXE said:

Rheumatoid said:

TiVo_Lad said:

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.

Makes you wonder if this dodgy govt got at members indirectly to try and meet their pledge to halve inflation in the stated timeframe - or am I just a cynic?

I think you're spot on 

Let's not forget two points:

1. BOE is independent in rate setting and it is done by a vote. BOE is responsible for monetary policy and their strongest instrument is to set interest rates.

I would say notionally independent. Doesn't stop members being got at in a variety of ways. Strange non voted for 0.25

jimroy

I noticed in app just now that Chase are increasing the interest rate on their Saver Account to 3.8% AER (3.74% Gross) on 3rd July.

ColdIron

You've gotta be quicker than that around here

https://forums.moneysavingexpert.com/discussion/comment/80127277/#Comment_80127277

jimroy

ColdIron said:

You've gotta be quicker than that around here

https://forums.moneysavingexpert.com/discussion/comment/80127277/#Comment_80127277

Haha. I missed that. Thanks. 

dreamypuma

So glad I opened a Virgin Money Headstart account for our daughter a few years ago. She's now hitting 6%.

I suspect Virgin will look to notify closure of these legacy accounts soon (assuming they can get their act together)

JimLad

Any chance of CHIP raising again do you think? I literally just moved to them from tandem