The Top Easy Access Savings Discussion Area

TiVo_Lad

Freedommm said:

Tandem being silent? Will they increase the interest rate or what?

Yes they will. Tomorrow. I've just moved my funds from them to Ford.

Sg28

Eirambler said:

Swipe said:

I'm not fixing just yet

Saw a report yesterday that the interest rate rises have had no real impact at all yet as they have actually benefitted savers more than mortgage holders so far, because so many mortgage holders are still on fixed rates under 2.5%.

Longer term I think rates will probably settle somewhere around where they are now, but there's definitely a chance of a sharp spike in the short term to deal with inflation as the increases so far do not seem to be having the desired impact.

Mortgage holders aren't the target of interest rates rises. Its to make new borrowing more expensive to put people off buying new stuff. 

Eirambler

Sg28 said:

Eirambler said:

Swipe said:

I'm not fixing just yet

Saw a report yesterday that the interest rate rises have had no real impact at all yet as they have actually benefitted savers more than mortgage holders so far, because so many mortgage holders are still on fixed rates under 2.5%.

Longer term I think rates will probably settle somewhere around where they are now, but there's definitely a chance of a sharp spike in the short term to deal with inflation as the increases so far do not seem to be having the desired impact.

Mortgage holders aren't the target of interest rates rises. Its to make new borrowing more expensive to put people off buying new stuff. 

It's both.

Thumbs_Up

Sg28 said:

Eirambler said:

Swipe said:

I'm not fixing just yet

Saw a report yesterday that the interest rate rises have had no real impact at all yet as they have actually benefitted savers more than mortgage holders so far, because so many mortgage holders are still on fixed rates under 2.5%.

Longer term I think rates will probably settle somewhere around where they are now, but there's definitely a chance of a sharp spike in the short term to deal with inflation as the increases so far do not seem to be having the desired impact.

Mortgage holders aren't the target of interest rates rises. Its to make new borrowing more expensive to put people off buying new stuff. 

Then comes the boogie man called recession. People won’t buy new homes, cars, white goods, drink down the pub, buy premium TV channels, fancy mobile phones. What would the economist call this, a vicious cycle?

soulsaver

Gatehouse new EA rate of 4.15%, supposedly wef 04/07, hasn't been added to the ranks in ToTP because, whilst I can confirm the rate has been applied to existing accounts, it is still shown on their web as 'under review' - there is no facility to apply as a new customer.


I can confirm that the facility is visible there whilst logged in, so maybe available for existing customers for now.

pecunianonolet

Thumbs_Up said:

Sg28 said:

Eirambler said:

Swipe said:

I'm not fixing just yet

Saw a report yesterday that the interest rate rises have had no real impact at all yet as they have actually benefitted savers more than mortgage holders so far, because so many mortgage holders are still on fixed rates under 2.5%.

Longer term I think rates will probably settle somewhere around where they are now, but there's definitely a chance of a sharp spike in the short term to deal with inflation as the increases so far do not seem to be having the desired impact.

Mortgage holders aren't the target of interest rates rises. Its to make new borrowing more expensive to put people off buying new stuff. 

Then comes the boogie man called recession. People won’t buy new homes, cars, white goods, drink down the pub, buy premium TV channels, fancy mobile phones. What would the economist call this, a vicious cycle?

That's why the BOE does monetary policy and the government is responsible for fiscal policy. The latter has been a big fail in recent years, or decades even.

CheekyMikey

simoncorkswill1 said:

Chip has been on 4.21 for a while , is there any reason it’s excluded from the produced tables/lists ?

Chip is 4.26

pecunianonolet

CheekyMikey said:

simoncorkswill1 said:

Chip has been on 4.21 for a while , is there any reason it’s excluded from the produced tables/lists ?

Chip is 4.26

Welcome move by Chip to increase rates by 0.05%. Seriously? Is Chip moving into Smartsave territory or is the air getting thinner of what they can offer?

simoncorkswill1

CheekyMikey said:

simoncorkswill1 said:

Chip has been on 4.21 for a while , is there any reason it’s excluded from the produced tables/lists ?

Chip is 4.26

As of today , not yesterday.

soulsaver

pecunianonolet said:

CheekyMikey said:

simoncorkswill1 said:

Chip has been on 4.21 for a while , is there any reason it’s excluded from the produced tables/lists ?

Chip is 4.26

Welcome move by Chip to increase rates by 0.05%. Seriously? Is Chip moving into Smartsave territory or is the air getting thinner of what they can offer?

They've always previously gone to the top EA rate, haven't they?
They were also slow to respond last time.