One-year fixed-rate savings deals are nudging higher as money markets forecast the Bank of England to increase base rate higher than previously thought. That's £115 more than savers will earn from £10,000 best easy-access savings rate paying 3.55 per cent. Anna Bowes, co-founder of savings website, Savings Champion, said: 'Short-term bonds are increasing again and competition is rife. A spokesman for the savings website, Savings Guru, added: 'We're living in unusual times with the best one-year rate currently priced above the best five-year. 'The reason one-year rates are so high is that it reflects that swap rates, which have hit 4.72 per cent for one-year.

Source: Daily Mail April 24, 2023 20:18 UTC