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post lockdown savings and interest
randm
Posts: 493 Forumite
I have the opportunity to get my isa fixed at 0.70 for 1 yr, So I am wondering what are the predictions for interest rates on savings when we come out of lockdown.? I know this is congective. i have been reading downthread about the economy and inflation but i do not know how this affects/could affect interest rates, so any information will be great. I know a lot of people have lost jobs, or will no longer be receiving furlough pay, but i am also aware that people are so sick of being at home and have money to spend that a lot of retail therapy etc will be in order. Any thoughts will be helpful.
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Comments
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The savings institution offering the ISA have not just pulled the 0.7% figure out of the blue . They will have offered it on their best guess of the interest rate situation in 12 months . So they probably know a lot more than you or I .
In any case for a 12 month fix its not going to make much difference one way or the other as the interest rate is not going to change dramatically in that time period.1 -
In waiting you may well waste any potential gain.1
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Thrugelmir said:In waiting you may well waste any potential gain.
thankfully not, the isa is in a fix at the moment of 1.15% which ends in a weeks time and i have to two days before to opt for the new rate.
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