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UK FCA Chastises Banks For Low Deposit Rates, Meanwhile Wise Trounces Banks With Higher Savings Rates

UK FCA Chastises Banks For Low Deposit Rates, Meanwhile Wise Trounces Banks With Higher Savings Rates
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Banking & Savings: Rates Climb As FCA Challenges Providers To Improve Offers

What's the latest news from the banking and savings market? We monitor all the latest moves and keep you updated regularly with the key developments 7 J

Banks raise savings rates – hours before grilling by regulator

Lloyds and HSBC have increased savings rates just hours before banks are due to meet the City watchdog to discuss profiteering concerns. Bosses at HSBC, NatWest, Lloyds and Barclays are expected to meet the Financial Conduct Authority on Thursday to discuss how cash saving accounts are priced and how banks communicate the deals they offer to customers. The Bank of England has raised interest rates 13 times in a row from 0.1pc to 5pc, its highest level since 2008. However, the average easy-access

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