UK household bank and building society savings grew at the slowest pace since records began in the 12 months to September as savers poured money into NS&I bonds instead, according to the Bank of England.
The Bank’s “household M4” measure - which includes cash and money held in bank and building society accounts with a maturity of five years or less - ticked up by only 0.8% in the last year, the lowest rate since the Bank started tracking data in 1998, after household savings fell by £31.5 billion during September.
