Money

HSBC is offering 2.5 percent interest rate on up to £3,000 via children’s savings account

While there was speculation about negative interest rates coming into force in the UK, according to one analyst, it’s not a prospect which looks likely now, amid the UK vaccine roll-out.

“Monetary policy expectations have come a long way since the start of the year, when negative interest rates were considered a serious possibility,” Laith Khalaf, financial analyst at AJ Bell, commented.

“Negative rates are now dead before arrival, thanks to the successful vaccine roll-out, and the Bank’s preparations to allow for sub-zero rates by August look like a purely academic exercise.

“Since the interest rate committee last met in March, shops, cafés and restaurants have opened, and a further seven million people have received their first vaccine dose.

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