BT

By Michael Race & Daniel Thomas

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    • bbc.co.uk
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    • Bank bosses told to explain low savings rates
      4 Jul 2023—bbc.co.uk
      Getty Images By Michael Race & Daniel Thomas Business reporters, BBC News Bank bosses have been summoned by the UK's financial watchdog over concerns interest rates on savings are too low. Higher interest rates have led banks to put up mortgage costs sharply, but savings rates are not rising as fast. Chancellor Jeremy Hunt says it is an "issue which needs solving", at a time when many households are struggling with the soaring cost of living. The heads of Lloyds, HSBC, NatWest and Barclays...

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