The Bank of England base rate is the benchmark interest rate that influences what savings accounts, mortgages, and loans charge across the UK. When the base rate rises, savings account rates typically follow — making stoozing and regular saver strategies more profitable.
Stoozing: Higher base rates mean better savings account returns, so the gap between your 0% credit card borrowing cost and your savings interest widens. This directly increases your stoozing profit.
Regular savers: Regular saver rates are set independently by each bank, but they tend to be highest when the base rate is high. Banks use premium rates on regular savers to attract and retain current account customers.
Easy-access savings: The best easy-access accounts typically offer rates close to the base rate (within 0.5% either way). When the base rate changes, these accounts usually adjust within a few weeks.