i m going to be discussing it with these three, there they are, matthew plosser from the new york federal reserve, liz lumley from the banker magazine, and frederic malherbe from university college london, who thinks central banks should consider more radical steps to get the banks to pass on better deals for savers. plus, the boss behind the trains of tomorrow. my interview with the global ceo of one of the world s biggest train and tram makers, on the future of transport across the world. wherever you arejoining me from around the world, once again a big hello, and warm welcome to the show. you know, across the world s most powerful countries, the cost of borrowing money has been going up. central banks, they ve been raising the interest rates to tackle inflation. and while banks have been lightning fast in passing on those rising rates to those who borrow from them, those who save with their banks, well, they ve not been seeing the same immediate reaction. if they want hig
the australian prime minister, and the us president. the three countries are expected to agree to provide australia with nuclear powered submarines. now on bbc news, talking business. welcome to talking business. take a look at what is on the show. rates are rising around the world so why aren t more savers getting a better deal from the banks? bumper profits are expected from the biggest financial institutions this year as they charge more to borrow but those with savings have not been the same consistent increase in with what they get paid with putting money in the bank. so why not? i would discuss this with these three, we have the new york federal reserve, the banker magazine and the university of couege magazine and the university of college london, who thinks that central banks should consider more radical steps to get banks to pass on better deals for savers. plus what is behind the trend of tomorrow, my interview with a global ceo with one of the biggest tram and tram
added to the venue for hollywood s biggest awards. the field of best picture contenders features many of last year s biggest box office hits, including elvis, and everything everywhere all at once. now on bbc news, talking business. hello, everybody, welcome to talking business with me, aaron heslehurst. let s take a look at what s on the show. rates are rising around the world, so why aren t more savers getting a better deal from their banks? bumper profits are expected from the world s biggest financial institutions this year, as they charge more to borrow. but those with savings haven t seen the same consistent increase in what they get paid for putting money in the bank. so, why not? i m going to be discussing it with these three, there they are matthew plosser from the new york federal reserve, liz lumley from the banker magazine, and frederick maller from university college london, who thinks central banks should consider more radical steps to get the banks to pass on
Well be talking to the winners and losers. And who would you trust with your bank account. We will need one London Digital bank that promises a new way of managing your money. We ask what would be the one thing you change about the bank you use, cheaper loans, better Interest Rates, Faster Service . Let us know. Just use the hashtag bbcbizlive. Hello and welcome to Business Live. Good to have you with us. Banking is dominating the programme today, get in touch with your thoughts. We are talking about europes biggest bank, hsbc. One of the worlds biggest banks, hsbc, has reported its latest set of earnings and if youre a shareholder you are going to be very pleased with what they have to say today. The bank made a pre tax profit of 5. 28 billion in the Second Quarter of the year thats more than the 4. 6 than the 4. 6 billion that analysts were expecting. Hsbc announced a Share Buyback of up to 2 billion as it looks to make the most of its huge cash pile. The move will effectively restri
look, banks aren t charities. you know, they re in it to make money. isn t this just the way the markets work? well, this is at, the moment, the way the markets work but this is not a well functioning market. banks serve all sorts of very important purposes and they face costs, so they they should makea margin. i am not saying that the banks should pass on the full 4% to the savers, but i doubt that keeping a 3% margin is really necessary. people don t really move their money around. they should, but they don t. and this is what lets the banks take advantage of. but, fred, i mjust thinking here if the banks already are sitting on a pile of money, they don t need new deposits, there s no competition, none of this is going to work. i think it could still work. it is true that the banks are sitting on a huge pile of cash which they hold in reserves at the at the central bank. and so, in a sense, they don t need that money to make extra loans.