Mortgages are going up, why aren’t savings?

Business

Heads of the UK’s biggest banks have been summoned by the UK’s financial watchdog over concerns interest rates on savings are too low.

Higher Bank of England interest rates have led banks to put up mortgage costs, but savings rates are not rising as fast – a situation Chancellor Jeremy Hunt has said “needs resolving”.

On the Sky News Daily, Sally Lockwood is joined by Sky’s business correspondent Paul Kelso, and Danni Hewson, head of financial analysis at AJ Bell, to find out what the rate disparity means for you, and if anything is likely to change any time soon.

Click to subscribe to the Sky News Daily wherever you get your podcasts

Podcast producer: Rosie Gillott
Interviews producer: Alex Edden
Editor: Paul Stanworth

Products You May Like

Articles You May Like

Samsung Galaxy Buds 3, Buds 3 Pro Specifications Leak; Tipped to Get IP57 Rating, Up to 30 Hours Battery Life
Hungary agrees not to veto NATO’s deepening support for Ukraine
NBA players and teams react to the news of Jerry West’s death – NBC Los Angeles
“I Said ‘F**k’ A Zillion Times” – Luke Bryan Details The Drunkest Performance Of His Career (& It Was At A Charity Event)
35 Best Small Gifts for Men That Make a Big Impact In 2024