The New Top Easy Access Savings Discussion Area

p1ston

I'm new on these savings threads. I wonder if this is the thread to discuss the following. Do you find that you put your money into some top interest savings account only to find they lower the interest in the next few weeks then you move elsewhere and they do the same?
Also is there a list of cash Isa interest rates for transferring clients?

friolento

p1ston said:

I'm new on these savings threads. I wonder if this is the thread to discuss the following. Do you find that you put your money into some top interest savings account only to find they lower the interest in the next few weeks then you move elsewhere and they do the same?
Also is there a list of cash Isa interest rates for transferring clients?

It is normal that easy access and other rates do change, loosely in line with the movement of the BoE rate. This is now on a downwards trend, so we need to expect falling savings rates.

For ISAs, there is a separate board: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

p1ston

friolento said:

p1ston said:

I'm new on these savings threads. I wonder if this is the thread to discuss the following. Do you find that you put your money into some top interest savings account only to find they lower the interest in the next few weeks then you move elsewhere and they do the same?
Also is there a list of cash Isa interest rates for transferring clients?

It is normal that easy access and other rates do change, loosely in line with the movement of the BoE rate. This is now on a downwards trend, so we need to expect falling savings rates.

For ISAs, there is a separate board: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

Thank you. So the inflation is going to stay at 4% for the next year and these idiots on MPC are reducing the boe rate? Just as well I have some knowledge in my head and went on a spending spree as soon as car showrooms opened after lockdown. Last time I looked I bought my car about 10% cheaper than one/two years later.

Bridlington1

p1ston said:

I'm new on these savings threads. I wonder if this is the thread to discuss the following. Do you find that you put your money into some top interest savings account only to find they lower the interest in the next few weeks then you move elsewhere and they do the same?
Also is there a list of cash Isa interest rates for transferring clients?

For a list of the top Cash ISAs currently on offer, see @Kazza242's long running Cash ISAs: The Best Currently Available List thread:
https://forums.moneysavingexpert.com/discussion/401374/cash-isas-the-best-currently-available-list/p1

EthicsGradient

p1ston said:

friolento said:

p1ston said:

I'm new on these savings threads. I wonder if this is the thread to discuss the following. Do you find that you put your money into some top interest savings account only to find they lower the interest in the next few weeks then you move elsewhere and they do the same?
Also is there a list of cash Isa interest rates for transferring clients?

It is normal that easy access and other rates do change, loosely in line with the movement of the BoE rate. This is now on a downwards trend, so we need to expect falling savings rates.

For ISAs, there is a separate board: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

Thank you. So the inflation is going to stay at 4% for the next year and these idiots on MPC are reducing the boe rate? Just as well I have some knowledge in my head and went on a spending spree as soon as car showrooms opened after lockdown. Last time I looked I bought my car about 10% cheaper than one/two years later.

Not sure where you get "inflation is going to stay at 4% for the next year" from. A recent Commons research briefing:

The CPI annual inflation rate is expected to be on a downward path in 2026. The average forecast among economists surveyed by the Treasury in November 2025 was for inflation to be 3.5% in Q4 2025 and 2.3% in Q4 2026.

In its November 2025 forecasts released alongside the Budget, the Office for Budget Responsibility (OBR) expects an inflation rate of 3.6% in Q4 2025, before falling to 2.1% in Q4 2026. Further information on these forecasts is available from the Library briefing Autumn Budget 2025: A summary. 

In its early November 2025 meeting to set interest rates, the Bank of England’s Monetary Policy Committee said that inflation is “judged to have peaked”. Bank staff, in their accompanying assessment of the economy, forecast inflation “to fall to close to 3% in coming quarters” and then down to 2.5% in Q4 2026, before falling just below the 2% target in Q2 2027.

https://commonslibrary.parliament.uk/research-briefings/sn02792/

CuparLad

EthicsGradient said:

Not sure where you get "inflation is going to stay at 4% for the next year" from. A recent Commons research briefing:

The CPI annual inflation rate is expected to be on a downward path in 2026. The average forecast among economists surveyed by the Treasury in November 2025 was for inflation to be 3.5% in Q4 2025 and 2.3% in Q4 2026.

In its November 2025 forecasts released alongside the Budget, the Office for Budget Responsibility (OBR) expects an inflation rate of 3.6% in Q4 2025, before falling to 2.1% in Q4 2026. Further information on these forecasts is available from the Library briefing Autumn Budget 2025: A summary. 

In its early November 2025 meeting to set interest rates, the Bank of England’s Monetary Policy Committee said that inflation is “judged to have peaked”. Bank staff, in their accompanying assessment of the economy, forecast inflation “to fall to close to 3% in coming quarters” and then down to 2.5% in Q4 2026, before falling just below the 2% target in Q2 2027.

https://commonslibrary.parliament.uk/research-briefings/sn02792/

It's worth pointing out that the Bank of England has raised significant concerns over the quality of data received from the ONS, forcing them to rely on other data sources. This has raised some doubts over the accuracy of future inflation rate predictions and hence base rate decisions. 

What actions that might be taken by the residents of the Kremlin and the White House also create significant questions around the direction of inflation and base rates into the future.

What is certain is uncertainty.

SloughSally

This was the BoE report last August.

——

Over the past couple of years we have raised interest rates to slow down price rises (inflation). It’s working. Inflation has fallen a lot over the past 18 months. Inflation in the UK fell back to our 2% target in May and June. In part due to the fading impacts of global shocks like the war in Ukraine and Covid. In part due to higher interest rates.

Inflationary pressures have now eased enough that we’ve been able to cut interest rates today. 

But this decision was finely balanced. The risks of higher inflation remain. We need to make sure inflation stays low. So we have to be careful not to cut interest rates too much or too quickly.

We expect inflation to rise again this year, to around 2¾%. But we expect this increase to be temporary with inflation coming back down next year. Over the coming years we need to make sure that inflation will continue to stay low. High inflation has affected everyone, but it particularly hurts those who can least afford it. 

——-

So they were very wide of the mark and like all these “ forecasts” like GDP etc were  hugely optimistic, probably from political pressure to say what certain people want them to say.

They  were saying they need to be careful in cutting rates , yet now with inflation over 1.5% above their forecast from 14 months ago they plan to do exactly that next week despite already cutting it multiple times since.

p1ston

SloughSally said:
So they were very wide of the mark and like all these “ forecasts” like GDP etc were  hugely optimistic, probably from political pressure to say what certain people want them to say.

They  were saying they need to be careful in cutting rates , yet now with inflation over 1.5% above their forecast from 14 months ago they plan to do exactly that next week despite already cutting it multiple times since.

Exactly. They don't know what they're doing/forecasting. Anyone remember autumn 2020? "Inflation is a temporary thing" BOE. One of a string of bad decisions taken in the past 30 years MPC creation

friolento

p1ston said:

SloughSally said:
So they were very wide of the mark and like all these “ forecasts” like GDP etc were  hugely optimistic, probably from political pressure to say what certain people want them to say.

They  were saying they need to be careful in cutting rates , yet now with inflation over 1.5% above their forecast from 14 months ago they plan to do exactly that next week despite already cutting it multiple times since.

Exactly. They don't know what they're doing/forecasting. Anyone remember autumn 2020? "Inflation is a temporary thing" BOE. One of a string of bad decisions taken in the past 30 years MPC creation

Have you considered offering them your services so they can know what they are doing?

EthicsGradient

It seems worth pointing out that the survey of economists averaged at 2.3% by Q4 2026. The "4%" figure seems to come from thin air. Sure, you can be pessimistic, and think that all the economists get it wrong all the time, but that's just your feeling, man. The BofE doesn't go around asking random members of the public what they feel will happen.