Will saving/deposit interest rates in the UK really improve if the base rate goes up? One chart might answer the question

Here is a chart of the average quoted interest rate on savings/deposits in the UK (Source: Bank of England) since 2011,

Source: Bank of England

What the chart shows us:
Savings interest rates have become detached from the base rate (blame Quantitative Easing?)
Savings interest rates have been in decline, no wonder savers are taking more risk with their savings (we covered this here)

Savers can only expect better interest rates if QE reduces or ends.

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