The Bank of England held base rate again today – the fourth hold since September.
Rates have almost certainly peaked in this cycle but are stuck at 5.25 per cent, yet mortgage and savings rates have fallen substantially.
On this episode of Lunch Money, Lee Boyce and Simon Lambert look at what the base rate hold means for borrowers and savers.
They discuss whether mortgage and savings rates will keep falling and when the Bank of England may cut.
Hitting a peak: How the Bank of England’s base rate rises have levelled off
A rates decision also arrived last night on the other side of the Atlantic, with the US Federal Reserve also holding rates. But for investors it is less about what the Fed did than what it said.
Victoria Scholar, of interactive investor, explains the Fed decision, the market reaction and what rate expectations mean for investors.
And finally, it’s the first of the month, so it’s Premium Bonds day – we reveal what we know about the savers who scopped the £1million prizes in February.
