Bank Rates: Failure of banks to raise savings rates 'ridiculous and unsustainable'

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The bosses of the country's four main lenders have been summoned to a meeting with the financial watchdog as they face pressure to raise "measly" easy access savings rates.

The Financial Conduct Authority (FCA) expects chief executives from HSBC, NatWest, Lloyds, and Barclays to attend on Thursday amid allegations of "blatant profiteering".

Dame Angela Eagle, the Labour MP, today insisted that banks are not treating Britons "fairly" by failing to increase the savings rate at a fast pace.

Politics latest: https://news.sky.com/story/politics-latest-chancellor-to-meet-regulators-in-bid-to-tackle-cost-of-living-another-minister-pauses-support-for-korski-12593360

#banks #interestrates2023 #skynews

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