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Wait or fix
bdb47
Posts: 8 Forumite
My cash ISA with Virgin money has matured this week. They are offering 3.7% for a 1 year fix but now my funds are held in an easy access account paying just 0.25%. with the BoE decision next week on interest rates being predicted for a rise am I better off waiting until after that to make a decision. Obviously I'm not going to leave my money in a 0.25% long term
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Comments
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Lots of us asking the same question. There are multiple posts covering this. I have decided to sit tight until next month.1
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Even if there is a BOE rise, there is no guarantee any banks will act on it straight away. consider moving it to an easy access ISA with a better rate while you are waiting.2
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I'm starting to think that with things stabalising a bit under Sunak, Bank of England might not raise interest by as much as predicted and combined with markets pricing in a higher rise, we may have already peaked on the 2-5 year ISA rates...Tempted to transfer £20k into the Virgin 2 or 3 year ISA now incase its withdrawn next month and not replaced...0
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