|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    22nd of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

Economy News feed Economy News

All Financial News feed All Financial News

Rising inflation fails to deter savers

Bookmark and Share

by David Masters
Rising inflation fails to deter savers

Rising inflation is not deterring consumers from putting money aside into a savings account, according to research by Nationwide.

According to the building society, the number of occasional and regular savers is at the highest level for 16 months.

Nearly eight in ten (79%) consumers are now regular or occasional savers, according to Nationwide’s Importance of Savings Index.

Andy Hutchinson, Nationwide’s head of savings, welcomed the increase in the number of people saving.

“This is despite the continued low interest rate environment,” he said.

“The last time there were so many savers, the Bank of England Base Rate was 5.00%.”

He added that despite the low base rate, savers can achieve a high interest rate on their money.

“Good returns are still available, especially for those who are willing to lock part of their savings into longer term bonds,” he said.

Discuss this in the Finance Markets forums

Story link: Rising inflation fails to deter savers

News posted: February 9, 2010

Financial Services:

Related financial stories to: Rising inflation fails to deter savers:
Previous: «
Next: »

Visited 3246 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: ,