The Bank of England has raised the interest rate from 0.5% to 0.75% – the first rise since 2009.
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In the world of finance, there is plenty of jargon floating around which can cause it to seem more complex and dense than it is in reality.
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Interest – it’s not always as easy to understand as you would think.
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We’re constantly reminded of the importance of saving – whether it’s for our retirement, that luxury holiday or for those emergency expenditures that just seem to come out of nowhere.
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If you’ve seen any sort of news coverage over the past week, then you’ll know that the Bank of England have decided to put the interest rate up, from 0.25% to 0.5%.
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We all know that if we want the best deals, at the lowest price, it’s good practice to change service providers.
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Back in February, we revealed that Tesco had been forced to stop further applications for its current account after customers, keen to take advantage of the 3% interest rate, swamped the retail giant.
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