Fixed Cash ISA's and rising interest rates

I have a fixed rate cash ISA maturing very soon and I'm wondering whether to go for a 1, 2 or 3 year fixed rate deal next.

What is the general consensus on interest rates, are they likely to go up again this year?

Ideally I don't want to go for a lower rate 1 year when 3 year ones pay better but at the same time I don't want to lock into 3 years at present rate if it's likely to go up again significantly soon.


  • masonicmasonic Forumite
    20.4K Posts
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    The Bank of England base rate is currently 1% and predicted to go up this year. There is no consensus on how much. HTH
  • AlbermarleAlbermarle Forumite
    16.4K Posts
    10,000 Posts Fourth Anniversary Name Dropper
    Some posters on the site are only fixing for 6 months where possible. If there is a consensus, then probably it is not to fix for more than one year. Only hindsight will show if this is the right decision or not . On the other hand any minor difference in interest rates is not going to stop 9% inflation eating at your savings ....
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