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More than a year ...?

I'm a little late investing my ISA funds this year. Hoping to invest the full £20k.  What are your views on fixed cash ISA longer than a year - there are some good 2 year fixes out there - who has a crystal ball and has a view on this? 

Comments

  • El_Torro
    El_Torro Posts: 1,714 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    All signs point to interest rates coming down in the coming months. If you don't need the money within the next 2 years and you don't want to put the money in a Stocks & Shares ISA then I would say that fixing for 2 years isn't a bad option right now. 

    Of course that's just what my crystal ball tells me. We all have crystal balls, very few of them are accurate  ;)
  • Albermarle
    Albermarle Posts: 25,949 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    El_Torro said:
    All signs point to interest rates coming down in the coming months. If you don't need the money within the next 2 years and you don't want to put the money in a Stocks & Shares ISA then I would say that fixing for 2 years isn't a bad option right now. 

    Of course that's just what my crystal ball tells me. We all have crystal balls, very few of them are accurate  ;)
    I have been fixing my savings accounts for the last 18 months now, based on the premise of falling interest rates ( and buying gilts) . However so far interest rates have remained stubbornly stable !
    Maybe a new crystal ball needed.....
  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    edited 10 June 2024 at 10:22AM
    It seems to be more in the central banks' interests to indicate that rates will come down than actually doing it.
  • bucksman
    bucksman Posts: 64 Forumite
    Third Anniversary 10 Posts Name Dropper
    With the election coming I do wonder if the interest rates are now going to stay put for the time being.  If the BofE adjust them it will be used as a media piece by one of the political parties. The statusquo for the time being maybe?
  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    bucksman said:
    With the election coming I do wonder if the interest rates are now going to stay put for the time being.  If the BofE adjust them it will be used as a media piece by one of the political parties. The statusquo for the time being maybe?
    Interest rates tend to be a global event these days.

    One central bank changing rates puts pressure via exchange rates on the others to follow.
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