post lockdown savings and interest

randm

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.

Albermarle

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.

Thrugelmir

In waiting you may well waste any potential gain. 

randm

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.