negative interest rates

[Sarah]

The BoE base rate rise to 1.00% confirmed.

The Bank of England has warned the UK economy will shrink this year as it raises interest rates to try and stem the pace of rising prices.

Rates rose to 1% from 0.75%, their highest level since 2009 and the fourth consecutive increase since December.

https://www.bbc.co.uk/news/business-61319867

[pabenny]

Coventry BS have again increased the rate on my existing regular saver - it's now 1.65%.

All credit to them - they could have left the rate unchanged as existing balances are effectively locked in and most people wouldn't bother to stop monthly payments.

[Sarah]

Ford Money

In line with Our Best Rate Guarantee we’re increasing the interest rate on our Flexible Saver effective 13th May 2022 as follows:

Current rate New higher rate
1.00% Gross 1.14% Gross

Not bad; this beats Marcus and Virgin Money M Plus Saver right now; but Chase UK at 1.50% still a much better rate for easy access.

https://www.fordmoney.co.uk/savings-pro ... ible-saver

[planteria]

Coventry BS have again increased the rate on my existing regular saver - it's now 1.65%.

good on cash in this climate. still alright with a no hassle, minimal opportunity cost, £100 account though