Leekbrookgull
Well-known member
To.75%. Interesting ?
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USA. Base rate increase.
- Thread starter Leekbrookgull
- Start date
AmexRuislip
Retired Spy 🕵️♂️
Oh crap, does that mean it will follow over here?
It will mean a weaker £ for sure.
No and long expected by the markets so I expect little reaction.
I got it wrong. The last one was a 100%. Now it's 50% next one 33.3%.
Leekbrookgull
Well-known member
- Thread starter
- #8
Investment. Banks want to loan,with strings.
larus
Well-known member
Only the second rate rise from the fed in 10 years. This is at the time when they are nearing full employment (rate is 4.6%), and we are years into the current expansionary phase of the economic cycle. Talk about world economies being screwed, or may over the last 40 odd years they've been screwed and this is the new reality.
Either way, interesting times (if you like this type of shit)
Either way, interesting times (if you like this type of shit)
You can always save money, if you have it. That money will be worth less in the future if the rate of inflation is greater than the rate of interest.
Base rate currently 0.25% inflation 1.3%.
£10,000 savings would lose up to a £100 a year.
OzMike
Well-known member
RBA just put up base rates here by 0.15, the big banks are putting rates up so it should filter through to all banks by the end of the week.
Just in time for Christmas shoppers.
Just in time for Christmas shoppers.
kingcole
Well-known member
There is absolutely no need to earn just 0.25% on savings, even if you want zero risk approach. A quick look down the best buys would easily secure 4-5 times that rate, bit more if you were prepared to tie it up for a bit.
A higher risk attitude to savings via stocks and shares could easily have returned 20 times this figure over the past year.
Depends what you do with them.
KingstonSeagull
New member
Balls, that has made my holiday tomorrow more expensive....
The Maharajah of Sydney
Well-known member
No they haven't.
3 & 5 year Fixed Rate Mortgages have risen a touch along with Variable Interest Only Investment Housing Loans but the RBA Official Cash Rate has been sitting at 1.5% since being lowered by 0.25% in August.
I don't think anyone here can really answer that for you. Google and do a bit of reading on expected rate changes over the next 10 years. If you choose the 5 year option, put £100 a month into savings to cover a rate rise in 5 years if it happens.
Most of the 'best buy' savings accounts are conditional, linked to bank accounts, minimum monthly deposits etc and or limited to relatively small sums. Getting much more than one percent anywhere on a decent amount is difficult unless you want to tie money up for a fixed period so inflation will be eating away at the value.
Agree re stocks and shares, but that is twenty twenty hindsight, post the Brexit vote the markets have been steaming ahead but could equally lose the same or more in the next few months.
The Andy Naylor Fan Club
Well-known member
We remortgaged last year on a fixed 2.99% for 10 years. I was aware that there were other better short term deals, but in the long run I know what my mortgage payments are going to be and that gives me peace of mind.