Mortgages are going up, why aren’t savings?
Jul 09, 2023•22 min
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Episode description
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 the 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.
Podcast producer: Rosie Gillott
Interviews producer: Alex Edden
Editor: Paul Stanworth
Higher Bank of England interest rates have led banks to put up mortgage costs , but savings rates are not rising as fast – a situation the 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.
Podcast producer: Rosie Gillott
Interviews producer: Alex Edden
Editor: Paul Stanworth
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