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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

Why aren’t banks passing on interest rate rises to customers?

Bank of England Moneyfacts
Wide angle picture of the Bank of England
The Bank of England’s decision to raise interest rates does not mean account providers have to follow suit. Photograph: Rufus Stone/Alamy

Millions of people are being short-changed on savings rates, with banks and building societies failing to pass on this month’s 0.5 percentage point interest rate rise, research has claimed.

What’s happened?

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