Will easy access saving rates increase again 2023?

westv

phillw said:

If you mean whether accounts with no limits will return to pre covid rates, I think that might take a little while.

Pre covid rates were pants.

jimjames

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

RedImp_2

Albermarle said:

Bridlington1 said:

The BOE base rate looks as though it will keep rising for the early part of this year, 4.5% is a figure I've seen mentioned a few times, so I would expect easy access rates to keep rising. Maybe not quite as dramatic a rise as we saw in 2022 though, but a rise nonetheless.

Fixes are a different matter though, they seem to have leveled off and have started to slip slightly. I would expect little movement on that front for now, but only time will tell.

I did two fixes in November ( one 2 year ISA and one 3 year non ISA ) and both are now 0.5% below what they were then and todays ' best buys' are around 0.25% less than I got last year.
So the slippage seems to be around 0.25% to 0. 5% for fixed rate savings.

As I understand the expectation of what the BOE rate will ultimately end up at has reduced slightly over recent weeks and I presume this is reflected in the fixes.

Bigwheels1111

jimjames said:

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

I got 4.4% before the last rise.

Bridlington1

Bigwheels1111 said:

jimjames said:

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

I got 4.4% before the last rise.

I think @jimjames is referring to easy access cash ISAs, specifically the Virgin Money exclusive cash ISA at 3%. Easy access cash ISAs have continued to rise as have easy access rates on non-ISA accounts, unlike fixes which have leveled off and fallen. 

jimjames

Bridlington1 said:

Bigwheels1111 said:

jimjames said:

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

I got 4.4% before the last rise.

I think @jimjames is referring to easy access cash ISAs, specifically the Virgin Money exclusive cash ISA at 3%. Easy access cash ISAs have continued to rise as have easy access rates on non-ISA accounts, unlike fixes which have leveled off and fallen. 

Yes I am referring to easy access (as per thread title ) 

Bigwheels1111 said:

jimjames said:

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

I got 4.4% before the last rise.

Not for easy access though?

phillw

westv said:
Pre covid rates were pants.

Pre brexit better for you?

ericlered7

phillw said:

westv said:
Pre covid rates were pants.

Pre brexit better for you?

Pre brexit rates were pants too.

EssexHebridean

Bigwheels1111 said:

jimjames said:

Bigwheels1111 said:

Since the last 2 boe base rate rises, savings rates have gone down. Not up.

This post is saying about instant access rates. I don't think they've gone down not up, they're either the same or slightly higher. I've got 3% on an ISA which is higher than was available before the last rise.

I got 4.4% before the last rise.

4.4% Easy Access? Nice of you to share that one with the rest of us at the time… 😉

Bridlington1

ericlered7 said:

phillw said:

westv said:
Pre covid rates were pants.

Pre brexit better for you?

Pre brexit rates were pants too.

You'd have to go back to pre-financial crash before you get any decent rates IMHO.