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Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
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 Posted: Thu Nov 09, 2006 3:18 pm Post subject: Uk Interest rates rise to 5% |
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As expected UK interest rates have risen at 12pm to 5%
Savings account increases have also been announced as -
IceSave 5.45% from November 15th
Post Office Instant Saver 5.25% from December 6th
M&S Money Cash ISA 5.00% from November 10th
NS&I mini cash ISA rate rise to 5.55%
ICICI will HAVE to rise to at least 5.25% as they guarantee to be .25% above BOE rate
The Coventry BS First, current/savings account, currently paying 5.35% AER, will increase to 5.60% because they guarantee their rate will be 0.60% AER above BOE base rate
Other banks should also announce rate rises by or on 1st Dec 06
According to the Market Oracle, interest rates could rise as high as 5.75% ! http://www.marketoracle.co.uk/Article109.html |
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Phillipa
Veteran Investor
Joined: 05 Feb 2005
Posts: 419
Cash Points ££ 3383.78
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| Posted: Fri Nov 10, 2006 2:27 am Post subject: |
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That was quick !
They usually take a month or more to react ! |
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housebuyer
Money Saver
Joined: 02 May 2005
Posts: 81
Cash Points ££ 2815.22
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| Posted: Fri Nov 10, 2006 3:35 am Post subject: |
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The rise was totally expected !
The last one in August took the market by surprise so there were plenty of rumours that todays rise would be .5%
I think the next rise wil be in Feb |
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Sami
Beginning Saver
Joined: 17 Apr 2006
Posts: 39
Cash Points ££ 795.66
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| Posted: Fri Nov 10, 2006 7:48 pm Post subject: |
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| I hope this is the peak, sicne the mortgage rates are a lot higher |
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