Sarah Coles, of broker Hargreaves Lansdown, added: “Given that the Bank of England expects inflation to be 2.6pc in a year’s time, and 1.9pc in two years’ time, it means you could still effectively lock in a rate that could end up being double inflation for the next two years.”
But the offers will not last forever, experts warned, as the Bank Rate is expected to fall from the autumn.
James Blower, of comparison website Savings Guru, said: “Easy-access rates are already falling, anticipating cuts, and there’s only one provider paying 5pc or more for easy access and we expect 5pc plus rates to be a thing of the past by the end of this month.”
The Bank of England has held the Bank Rate at 5.25pc since last August, following 14 consecutive rises from December 2021.
The next meeting of the independent committee will be held on June 20, two weeks to the day before the election.
