NS&I reduces the new issue rates on fixed rate products

National Savings and Investments (NS&I) has lowered the rates available on new issues of its f...

National Savings and Investments (NS&I) has lowered the rates available on new issues of its fixed rate products and has pulled its two-year Index-linked Savings Certificates from sale on June 25. NS&I noted it has not made changes to any variable rate products since then, when the Bank of England last made a change in the base rate and since February, for example, yields on five-year gilts have fallen by around 0.15%. As such, gross rates on its one year Pensioner Guaranteed Income Bonds, Series 17, have been lowered by 0.10% to 2.90%, two year bonds fall by same amount to 3....