It has taken 14 months since the pandemic began impacting the UK economy and the Bank of England cut base rate to a historic low of 0.1%, but there are signs that the savings market is starting to stabilise.
New data, which is due to be published in the Moneyfacts UK Savings Trends Treasury Report, has found that the number of savings products, including ISAs, available to consumers has increased for the first time since October 2020 with 1,406 available in May. Despite the increase, this is still lower than the number of savings accounts and ISAs available in October 2020, when there were 1,531 savings products in the charts.
