Santander has increased interest rates for savers – but can it beat inflation? | Personal Finance | Finance

The central bank’s Monetary Policy Committee (MPC) has hiked the base rate nine consecutive times in recent months and it is now at 3.5 percent.

In reaction to this decision, banks and building societies have passed on this interest increase to their customers, including Santander.

The next meeting by the Bank of England’s MPC to discuss the base rate will take place on February 2, 2022.

Laura Suter, the head of personal finance at AJ Bell, outlined her predictions for the year ahead and how savers can prepare for it.