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.
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