Savers missing out on ‘billions’ as banks don't pass on interest rise
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“And these people likely won’t see an increase in the interest rate they’re being paid, instead banks will pocket the difference to boost their profits.” Despite this, the personal finance
expert believes rates will “improve” in the near future to the benefit of savers. She added: “We’ve already seen an uplift based on the past two interest rate rises, with the top easy-access
savings account paying 0.65 percent ahead of the December rate increase and now the top rate is one percent. “It means that savers can finally get a bit more money on their cash, but
they’ll need to put in some legwork to get there.