Id love to see a rise in the PSA but under current ecenomic conditions i cant see it happening in the short - medium term.
I had to pay a few hundred quid last year in tax for going over PSA. Saving outside of an ISA can be very painful.
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Going by the SVB, i think banks will generally raise interest rates on savings to curtail deposit outflows.
So what’s your strategy - keeping cash in anticipation or investing in the stock market and why?
For 2023, possibly cashing up with a view to potentially overpay a chunk of my mortgage when I get to renewal time, although it is tempting to buy some bank shares -HSBC got a bargain buying up the UK arm of SVB that on its own was profitable.
From a short term perspective, easy access regular savings accounts at 6-7% is appealing.
(must have been a member since 1 June 2022) 9% fixed for a year
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At these rates, companies are going to have to work a lot extra harder to attract investors money, those days of easy cap in hand should be coming to an end.
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