BlueRat Posted June 11, 2013 Share Posted June 11, 2013 From 12 September 2013 NS&I are dropping their rates: Income Bonds £500+ 1.75% gross / 1.76% AER -->> 1.25% gross / 1.26% AER Direct Saver £1+ 1.50% gross / AER -->> 1.10% gross / AER Direct ISA £1+ 2.25% AER -->> 1.75% AER Bag of shite! Quote Link to comment Share on other sites More sharing options...
Starla Posted June 13, 2013 Share Posted June 13, 2013 From 12 September 2013 NS&I are dropping their rates: Income Bonds £500+ 1.75% gross / 1.76% AER -->> 1.25% gross / 1.26% AER Direct Saver £1+ 1.50% gross / AER -->> 1.10% gross / AER Direct ISA £1+ 2.25% AER -->> 1.75% AER Bag of shite! I got that email as well. I don't have any savings with NS&I, only Premium Bonds, which historically were considered a mugs game, but now return me more annually than any savings account. That's how bad savings rates are. Majority of my cash is in shares with dividends. Quote Link to comment Share on other sites More sharing options...
inflating Posted June 23, 2013 Author Share Posted June 23, 2013 BIS having told govts to stop gazing fondly on CB stimulus, plus a few other factors you might have read about elsewhere on HPC, makes me wonder whether an uptick in IRs for savers is now not so much of a pipe-dream. Perhaps in a few weeks or a month? Living in hope... Quote Link to comment Share on other sites More sharing options...
inflating Posted June 26, 2013 Author Share Posted June 26, 2013 http://www.dailymail.co.uk/news/article-2348576/Mark-Carney-Get-ready-mortgage-rate-rise.html?ito=feeds-newsxml Homeowners in thirties and forties warned of mortgage timebomb: New Bank governor says get ready for higher interest rates Canadian Mark Carney said businesses should prepare for 'slight or material change' in the level of interest rates Outgoing governor Sir Mervyn King said increases a long way off Higher rate a blow to homeowners and firms used to cheap borrowing By Hugo Duncan Economics Correspondent PUBLISHED: 23:15 GMT, 25 June 2013 | UPDATED: 09:08 GMT, 26 June 2013 Canadian Mark Carney said businesses should prepare for possibility of a 'slight or material change' in interest rate levels Britain's record low interest base rate could be on the way out after more than four years at 0.5 per cent, the new governor of the Bank of England warned yesterday. Read more: http://www.dailymail.co.uk/news/article-2348576/Mark-Carney-Get-ready-mortgage-rate-rise.html#ixzz2XJxLfyYK Follow us: @MailOnline on Twitter | DailyMail on Facebook Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted June 28, 2013 Share Posted June 28, 2013 Perhaps we are getting to hung up on rates. CPI will peak at 3.0% next month year on year (even month on month deflation will bring this about with last years June 12 precipitice deflation dropping out), but from there I believe it will finally get back to 2%. And as a HPC contrarian I tend to agree with the economists that CPI slightly over states the position. Maybe our cash doesn't need to work that hard after all. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted June 28, 2013 Share Posted June 28, 2013 (edited) Perhaps we are getting to hung up on rates. CPI will peak at 3.0% next month year on year (even month on month deflation will bring this about with last years June 12 precipitice deflation dropping out), but from there I believe it will finally get back to 2%. And as a HPC contrarian I tend to agree with the economists that CPI slightly over states the position. Maybe our cash doesn't need to work that hard after all. I agree with Max Keiser who reported a study that the real rate of inflation in the UK now is in the range 5.5%-6% (latest episode of the Keiser Report from Thursday). Very angry today - I went to open a Nationwide easy saver ISA which I thought would pay 2.25%. Had to do it in person in a branch! FFS! This meant I had to wait all week until today to do it. When I got home I read my email alert from Savings Champion which revealed that Nationwide had slashed all their rates yet again, and the "issue 2" easy saver ISA is only 2% . I think I'll get an issue 2 unless I was very lucky and got in under the wire. Edited June 28, 2013 by mrtickle Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted June 29, 2013 Share Posted June 29, 2013 Very angry today - I went to open a Nationwide easy saver ISA which I thought would pay 2.25%. Had to do it in person in a branch! FFS! This meant I had to wait all week until today to do it. When I got home I read my email alert from Savings Champion which revealed that Nationwide had slashed all their rates yet again, and the "issue 2" easy saver ISA is only 2% . I think I'll get an issue 2 unless I was very lucky and got in under the wire. It's not so much fun being a saver these days, even if you're quite a fan of saving in itself. There's less and less *other* reason to do it, and, if you don't inherently have the tendency, there's no incentive from without. Quote Link to comment Share on other sites More sharing options...
inflating Posted July 2, 2013 Author Share Posted July 2, 2013 From another thread today: The average yield at today's 10-year auction was 2.584%. Might be best to change the OP and thread subtitle. http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/press/020713conventional.pdf With thanks to FT. Yield up on gilts... I'm trying not to read too much into it but... Will Carney QE all over it? Quote Link to comment Share on other sites More sharing options...
righttoleech Posted July 4, 2013 Share Posted July 4, 2013 Pound plummeting after Carney's first meeting. Interest rates to stay low UFN. I see this rape of the prudent continuing into necrophilia. Quote Link to comment Share on other sites More sharing options...
inflating Posted July 4, 2013 Author Share Posted July 4, 2013 See http://www.itv.com/news/2013-07-04/mark-carney-hints-interest-rate-might-not-rise-for-some-time/ It's a hint that the Bank is minded to tell us next month that it won't raise rates for some time - which would be a promise that cheap borrowing will continue. This would constitute "guidance," Mr Carney's innovation which worked in Canada at his last job as governor there and which he hopes will help the UK by providing confidence to borrowers that they're not going to get stung with high interest rates. Quote Link to comment Share on other sites More sharing options...
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