Pension & savings to be affected as inflation doubles but 'hope' remains on lockdown rules

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Pension & savings to be affected as inflation doubles but 'hope' remains on lockdown rules

"With interest rates at record lows and the Bank of England keeping an open mind when it comes to negative interest rates, many will find that thei

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“With interest rates at record lows and the Bank of England keeping an open mind when it comes to negative interest rates, many will find that their savings are not keeping pace with inflation.

“While there is now hope for a way out of lockdown with millions vaccinated already and the over 70s rollout beginning, the hospitality, retail and leisure industries are still taking a big hit.

“Enthusiasm over a potential recovery is being dampened by the looming threat of a double dip recession.

“The next set of unemployment figures will be ones to watch closely; if these continue to shoot up it will further rock consumer confidence, which will likely have a knock-on effect on spending and could wipe out December’s inflation rise.”



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