calls from campaigners
Lenders say they have started to pass on higher rates to savers, adding that profitability is rebounding after years of low margins. But they are still adjusting. Pressure to immediately increase the rates banks pay savers has been intensified by the digital offerings from U.S. entrants into the market such as JPMorgan and Goldman Sachs, executives at the top British lenders said.
Lloyds' flagship Easy Saver instant access account paid just 0.6% as of Feb. 22, compared with 0.01% as of December 2021, the data showed. NatWest's Flexible Saver instant access account likewise offered 0.65%, up from 0.01% over the same period.
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No food, no energy, but plenty of inflation in the UK.