4 major UK banks earned over £9bn in interest on Bank of England cash, double the previous year's amount, due to increased UK interest rates.
4 major UK banks received over £9bn in interest on cash held with the Bank of England, more than double the previous year's amount, due to rising UK interest rates. The Bank of England's £895bn bond purchases after the 2008 financial crisis have generated more income for banks. The Treasury Committee urges banks to pass on higher interest rates to savers for better returns on deposits.
May 01, 2024
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