Latest news for HSBC

Rises in the rate of inflation hit savers

(26/05/2010)

Inflation continues to lessen the real return savers can achieve. The real return after basic tax and inflation on an average no notice account today stands at minus 4.72%. According to the latest inflation figures, the Consumer Price Index (CPI) has increased again to 3.70%. To stop their savings pot effectively eroding away, a basic rate tax payer needs to find an account paying 4.63%, while a higher rate tax payer needs to find an account ... [more]

Only lenders are getting any real benefit from all time low base rate

(14/09/2009)

Since 5 March 2009, consumers have been hit by falling savings rates and rising costs on mortgages, savings, personal loans, credit cards and overdrafts. Bank of England base rate has been at 0.50% for six month now, but consumers have seen very little benefit. Michelle Slade, spokesperson at Moneyfacts, commented: “Base rate has been at an all time low for six months now, but it appears that only providers are feeling any real benefit. Borrow... [more]

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