Cash ISAs fall out of favour as inflation outstrips interest rates

Cash ISAs fall out of favour as inflation outstrips interest rates

The popularity of Cash ISAs is continuing to wane according to new statistics from HMRC. With inflation persistently above interest rates, it’s not hard to imagine why. The Bank of England recently increased the interest rate to 0.75% but inflation increased to 2.7% in August 2018. This means, if you are holding cash in an ISA or considering topping up an existing account, you need ask yourself two questions:….