Future of deposit rates

[Renter7]

What do people think is likely movement in deposit rates over the next 3-4 months. Significant drops in last number of months. Big change that 3.3% is the best you can now get for 12 month fixed.

 

[Lightning]

Yeah, some huge drops lately.

Direction of rates? Further downwards. Ulster Bank will surely cut instant access rates soon, AIB have publicly said they will cut rates again to raise margins and BoI have said they will cut rates. Others will follow suit.

Also, the ECB might cut the base rate again.

However, the NTMA have not cut State Savings rates for some time. Their 3.00% 30 day notice rate is pegging up the entire market. It might create a defacto floor with some products.

 

[theresa1]

A good few years ago I took my money out of the 30 day notice and then went to Anglo 30 day and then changed to Premium Demand and then the Government moved me over to AIB and now my money is coming out and heading back to State Savings. I'll play the merry go round - it's the only way to go.

 

[The Ghoul]

Well it was good while it lasted. Thanks to CiaranT for posting all the high rates. I took advantage of many of them and I'd say plenty of AAMers did likewise!