In good news for savers, the Bank of England’s Monetary Policy Committee voted to maintain the current base rate of 3.75 per cent earlier this month.
But with the war in Iran threatening to increase prices and raise inflation, it’s even more important to make sure you’re getting the best returns on your savings. The most recent Consumer Prices Index (CPI) inflation reading was 3 per cent in February - but this data is from before the Iran war, and experts are expecting inflation to increase.
