Interest rate question

[moominda]

I feel Like I should know the answer and probably used to but the world is going so bonkers I want to check!

If interest rates are going up will that impact saving interest rates?

I was looking at a different savings account to transfer cash to at a fixed rate of a year. Should I wait a bit or just go for it?

Theoretically they should go to, but the backs will be far slower to put them up than they will mortgages.

I was about to open a fixed rate ISA just before the announcement but decided to hold on.

Ok thanks I wondered that

I'm moving from an isa to one recommended by Martin Lewis

Though I'm wondering if I should put it into my teachers pension which took a hit when I went part time

Interestingly... as interest rates on savings improve you might want to find a good isa as otherwise we'll all be paying tax on our savings interest soon!
@5% interest we'd start paying tax on anything over 24/25k!