Rates may be on the rise but watch out for inflation
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 1 October 2021
⏱️ 55 minutes
🧾️ Download transcript
Summary
On this podcast, Lee Boyce, Georgie Frost and Simon Lambert look at why savings rates are rising, whether interest rates will follow suit and quitehow long it might be before we get back to a normal situation of a savings account consistently beating inflation.
Simon discusses whether attack may be the best form of defence in the form of stock market investing - and why the 'just buy bitcoin' comments shouldn't be entitely heeded.
Plus, could you or would you want to live off grid? What would it entail? And would it actually save money?
Transcript
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| 0:00.0 | Welcome to This Is Money podcast. I'm Georgie Frost. Stand alongside me and editor Simon Lammett. Today is assistant editor Lee Boyce. |
| 0:07.0 | And coming up, better news for savers as rates rise, but watch out for that enemy of wealth, inflation. |
| 0:13.9 | It may force the Bank of England's hands sooner than previously thought, but still not very soon. |
| 0:19.3 | Also today, we look at the DIY investing apps challenging the |
| 0:22.1 | challenges and we go all Terminator 3 and ask could you live off grid? Actually I mean more |
| 0:28.7 | disconnected from the national energy supply rather than society in general. That is for another |
| 0:34.5 | podcast. Don't forget you stay up today with all the latest money news, just go to this ismoney.com. |
| 0:39.0 | com.uk or download the app. |
| 0:41.0 | But first, remember Marcus, that night in shining armour that came to the rescue of sabers from |
| 0:47.7 | rubbish rates and then promptly turned tail and ran away? |
| 0:51.7 | Well, it is back and firing up the Best Buy easy access savings |
| 0:56.3 | tables with a rate boost for new customers and an even better 0.6% deal for existing |
| 1:02.3 | savers. In a sign that perhaps the tide could be a turning across the market, Gatehouse |
| 1:07.8 | Bank has this week launched a Best Buy one year fixed green savings deal paying |
| 1:12.6 | 1.51% and it'll plant a tree in Britain for each account opened, which is nice. Lee, |
| 1:21.2 | I was about to talk to you about the good news that this might signal and then about, oh, 15 minutes before the podcast started, |
| 1:30.7 | I got a little notification from my savings account saying it's dropped by 0.1%, so I'm less |
| 1:36.2 | optimistic about this, but we'll look at the general picture in the short while, but specifically |
| 1:40.5 | first, let's go to Marcus. Yeah, so Marcus this week has boosted the rate on its easy access deal, |
| 1:49.1 | which is quite a significant move, which I would explain shortly. |
| 1:52.2 | But I should point out here that the 0.6% rate is open for it. |
| 1:56.4 | New customers can get it as well. |
... |
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