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

Pauly Shore Still Trying to Convince Richard Simmons to Get On Board with Biopic
KPMG braced for record fine over audit of collapsed Carillion
Colin Kaepernick Asks to Lead Jets’ Practice Squad
DGA On WGA Deal: “Now It’s Time For AMPTP To Get Back To Table With SAG-AFTRA”
Donald Trump Dead? By Howard Bloom

Leave a Reply

Your email address will not be published. Required fields are marked *