Inflation has a symbiotic relationship with interest rates, so in times of high inflation, the interest rates also tend to be higher. While this may look like a great thing for savers, it is a double edged sword. A savings account can be a safe place to leave your money and get a higher rate without sacrificing accessibility. You can leave your money in an account offering higher returns, with the reassurance that should you need the funds, you can access them.
However, while the interest rates may be high, the “real” value of your money is diminished by the higher rates of inflation. When inflation is higher than your savings rate, by leaving your money in the account for a year, it will have less real value.
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https://thesmartinvestor.com/banking/guides-banking/open-account-in-inflation/