UK finance minister Hunt says banks are slow to pass on rate hikes to savers

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 86%

Canada News News

Britain’s finance minister Jeremy Hunt said on Monday that banks are too slow to pass on increases in central bank interest rates to savers and this is a problem that needs to be resolved. | Reuters

‘ profits are generally improved by an increase in interestcan increase borrowing costs versus the amount they pay out in interest on deposits.rateratebankss 0.7-1.

35 percent for easy access savings accounts, at a time when the central bank had raised the baseAround 60 percent of household deposits are held in instant access accounts, the committee said.Subscribe to our daily newsletter

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines