Category: Savings rates

UK’s biggest banks urged to increase ‘measly’ savings rates

MPs question why some savers are receiving only 0.25% despite 12 consecutive Bank of England interest rate risesBusiness live – latest updatesBritain’s biggest banks need to “up their game” and stop...

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Mortgage payers face squeeze in 2023 after UK interest rate rises

Wealthy people who own home outright will avoid higher costs and benefit from better return on savingsHomeowners with mortgages will be among the biggest losers from the cost of living crisis in 2023 due to interest rate rises,...

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UK banks given six months to prepare for negative interest rates

Bank of England’s monetary policy committee votes to keep rate at 0.1% but gives sector six-month deadlineThe Bank of England took a step closer to introducing negative interest rates for the first time on Thursday, after...

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