Latest UK & International Investment and Savings News

This month’s publication of the latest UK inflation data showed consumer price inflation (CPI) has now reached 3.3%, its highest level in 10 years. The broader retail price index (RPI) touched 4.3% in May, up from 4.2% in April, according to data released by the UK National Statistics Office. 
  

Most commentators agree that with CPI inflation above the Government’s target of 2%, the current UK Base Rate of 5% is unlikely to be reduced in the short term.
Information in the National Statistics Office report showed upward inflationary pressures were felt from a range of goods and services including food and energy prices. However, the rate of increase in the broader retail prices index was lower, as this benefited from the reduction in mortgage interest costs passed on by banks after the last UK Base Rate cut in April. Mortgage interest costs are not included in the CPI index.

Skipton Guernsey Limited, the offshore savings specialist, has announced that following the cut in UK Base Rate in April, it will not be cutting the interest rates it pays to many savers. Skipton Guernsey did not cut rates to savers after the last Base Rate reduction in February this year, demonstrating its strong claim to be the “friend of the saver” with a policy of paying consistently good value interest rates.

This makes our accounts some of the most attractive available from a recognised brand in the savings market with over 10 years experience of serving Guernsey and expatriate savers.

According to the results of the latest poll on the Derbyshire Offshore website, Derbyshire Offshore customers definitely prefer to save rather than spend their hard earned money.  Customers were asked this question over Christmas and into the New Year period when ‘spending fever’ is usually running high and most of us are planning our New Year resolutions to cut back and look for new ways to save!