I-bond rates set to fall to 4.3% from 6.89% on May 1: Treasury Dept. website

The rate for Series I Savings Bonds has reset to 4.3%, according to a post on the the Treasury Department’s website on Friday. TreasuryDirect.gov indicated that the new rate that goes into effect on May 1 will be 4.3% annualized. That includes a 0.9% fixed rate and 1.69% six-month rate. That is above estimates based on known inflation data, which had pegged the rate at below 4%. The announcement had been expected on May 1. The previous rate for the last six months has been 6.89%. A Treasury Department representative did not immediately respond to a request for comment or confirmation of the new rate.

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