Low rates and rising inflation punish savers in real terms
“It’s never been so tough”
High street bank savings are set to shrink in real terms because of a "toxic combination" of low interest rates and rising inflation, according to Octopus Choice.
Work by the peer-to-peer lending platform has shown £10,000 deposited today in an average one-year fixed-term savings account paying 0.74% would be worth £9,933 in real money terms when withdrawn a year...
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