Interest rates are still at record lows but mortgages are only starting to get reduced, but not enough. There still is uproar amoungst many that the banks are charging large amounts for their loans and mortgages whilst offering paltry returns for savers.
At the latest MPC meeting where interest rates are decided, it was unanimously decided to keep interest rates low and not make an increase. This is against a rising level of inflation, eating away at your savings. There has never been a better time to find a bank account or savings account that maximizes the payback for you otherwise you are losing money. Inflation is very variable and there are differing measurements for inflation, however by any stretch and any method, inflation for the average family is beyond the interest payable and thus you should ensure that you get the best possible rates.
