Will Banks Increase Savings Rates?

Are we nearly there yet? The Bank of England hiked interest rates again this week, adding 0.5 per cent to take base rate to 4 per cent.

That’s a level that it was almost unthinkable we’d reach so quickly a year ago, but rates have gone up hard and fast.

The questions now are will base rate stall and when will it come back down again? But while the Bank of England has sent rates up like a rocket, it’s forecast show that they will only fall like a feather.

On this week’s podcast, Georgie Frost, Tanya Jefferies and Simon Lambert look at how likely those forecasts are to be correct and what this all means for the economy, mortgages, savings and first-time buyers.

Also on the show, Tanya explains another potential state pension scandal that her and Steve Webb have uncovered and Steve joins the podcast to talk through it.

Sam North, of eToro, gives us a market update and explains why investors have sent stock markets soaring at the start of 2023.

The clock is ticking on the tax year and Simon explains why he thinks the next couple of months are vitally important for getting money into an Isa and potentially selling some investments to do so.

And finally, do you love your tumble dryer? Many do but worry they can’t afford to run them. Fear not, help might be at hand.