IT’S TIME TO ACT

RATE reductions in the savings market have outweighed rises for 10 months in a row, according to Moneyfacts.co.uk.

In July, Moneyfacts recorded 16 savings rate rises. Reductions over the same period outshone this figure, with the number of rate decreases standing at 154.

Charlotte Nelson, a finance expert at Moneyfacts.co.uk, says: “Anyone looking to get a decent return on their savings will need to act soon.”