Inflation and interest rates – a guide for cash saversPosted in Fiducia News, Financial Advice (+4 more), on 22.02.21 Read
What can be said about inflation and interest rates? The numbers speak for themselves. The Bank of England current base rate is 0.1% and target inflation rate is 2%.
In other words, if you were to start with £50,000, based on an inflation rate of 2% per year, the estimated value of your money in ten years’ time might be £41,017.
Even though the current inflation rate is 0.6% (down from 2.75% in 2017), it’s...