UK big banks accused of short-changing savers on the rate rise pass-through
FROM THE WIRE · UK.FINANCE.YAHOO.COM
Britain's biggest banks have been accused of "short-changing" savers after failing to pass on higher interest rates to all of their customers. The Bank of England raised its base rate by 0.25pc to 4pc on Nov 5 – the first increase in more than three years. But the average…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralPass-through of the Bank of England's 0.25-point hike to savings accounts concerns rates and the banking sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01The Bank of England raised its base rate by 0.25% to 4% on November 5.
- 02The average easy-access savings rate is 2.61%, according to Moneyfacts.
- 03HSBC raised its flexible saver account by just 0.05%.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets