Expecting a fixed rate to be 5.50% by June 2023.

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Not hoping but expecting a fix rate at 5.50% due in June.

 

Pompeydave1967

Here’s hoping as well, I voted yes as we already are at 5.26 1 year. Also have bonds maturing in august , sept , October so fingers crossed as well.

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Can someone send the poll results to NS&I please.

boingy

I think we've got at least two more BoE hikes to come so I'd expect 5.5% fixed to be exceeded. However, I don't have a crystal ball and I have been known to be wrong. 

I'm assuming rates will peak sometime this year. What I don't know is what happens after that. Do they stay level-ish for an extended period or do they slowly start coming down? The BoE is independent but I imagine it will come under some significant pressure from a Govt with one eye on a probable General Election next year. Bribing the electorate is as common as kissing babies in the build-up to a GE so tax rates and interest rates will not necessarily be dictated by pure economics.

RG2015

What about the possibility of 10% soon?

We already have a 12 month 9% fixed rate on the Saffron Members' Monthly Loyalty Saver for a monthly £50 deposit.

It may only yield about £29 after 12 months but technically it is a fixed rate as per the thread title.

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RG2015 said:

What about the possibility of 10% soon?

We already have a 12 month 9% fixed rate on the Saffron Members' Monthly Loyalty Saver for a monthly £50 deposit.

It may only yield about £29 after 12 months but technically it is a fixed rate as per the thread title.

No, the Tories have a election to win, people losing their homes due to unaffordable mortgages won’t look good. And yes, the keep up with the Jones BMW can go back no problem.   

Yes, the BoE is independent.

retiringtoosoon

I’ve got £15k I want to fix for 2 years. When to pull the trigger…..

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retiringtoosoon said:

I’ve got £15k I want to fix for 2 years. When to pull the trigger…..

I and 30 others say holster your weapon for now...

VNX

RG2015 said:

What about the possibility of 10% soon?

We already have a 12 month 9% fixed rate on the Saffron Members' Monthly Loyalty Saver for a monthly £50 deposit.

It may only yield about £29 after 12 months but technically it is a fixed rate as per the thread title.

Good luck waiting for 10%

Johnjdc

boingy said:

I think we've got at least two more BoE hikes to come so I'd expect 5.5% fixed to be exceeded. However, I don't have a crystal ball and I have been known to be wrong. 

I'm assuming rates will peak sometime this year. What I don't know is what happens after that. Do they stay level-ish for an extended period or do they slowly start coming down? The BoE is independent but I imagine it will come under some significant pressure from a Govt with one eye on a probable General Election next year. Bribing the electorate is as common as kissing babies in the build-up to a GE so tax rates and interest rates will not necessarily be dictated by pure economics.

If two more BoE hikes are expected, those will be within the period banks are already using to calculate fixed rates.

If the peak is sometime this year, then as time passes, more of the period of high rates moves into the past, and regardless of the Bank of England overnight rate, fixes would be expected to fall, not rise

RG2015

VNX said:

RG2015 said:

What about the possibility of 10% soon?

We already have a 12 month 9% fixed rate on the Saffron Members' Monthly Loyalty Saver for a monthly £50 deposit.

It may only yield about £29 after 12 months but technically it is a fixed rate as per the thread title.

Good luck waiting for 10%

I'm not actually waiting for anything as my comment was purely academic.

We will have 10% pretty soon but probably another building society wanting a quick influx of capital.

Just after the financial crisis of 2007/2008, there were record breaking rates of 10% and even 12% regular savers.

https://www.theguardian.com/money/2008/jun/07/banks