Mark Carney's curse: three more years of savings famine From then on, it was a no-brainer for all those in the ruling elite. With the economy crippled, deflation could set in, and the last thing you want to be holding when prices fall is debt, which grows. Inflation, on the other hand, magics it away. So since then all policy has been designed to create inflation and keep the economy propped up long enough for those rising prices to work their magic on that debt pile (the Government owes more than £1 trillion, consumers nearly £1.5 trillion). We knew all this before, to the extent that markets barely fluttered. Interest rate futures point to a first Bank Rate rise in 2017 - the same as they were predicting before Mr Carney's confession. The economy may be showing some signs of recovery but will ultimately remain weighed down by debt. So nothing has changed. Low rates and high inflation will continue to force Britons to put money into assets, so expect even greater demand for buy-to-let, high-yielding shares, commercial property and any other hard asset. And expect annuity rates to remain artificially depressed. Savings rates, of course, will remain low, and could sink further if the Government keeps returning to its house price-boosting Funding for Lending toy. So consider a rate fixed for three years - the best deals this week were a 2.55pc rate with the Indian bank ICICI or the over-fifties specialist Saga. The pathetic rate on that best buy shows how hard this hunt for income has become - and it will remain with us. During the next desperate phase, Your Money will do what it can to help. We have launched an online round-up this week, which will be updated regularly, explaining what next for savings rates and the best ways to make the most of today's miserly deals. To keep ahead of the pack, go to telegraph.co.uk/savingsrates and bookmark the link.