Ten Things You Need to Know Today: 26 August 2023

The Week’s daily digest of the news agenda, published at 8am

1. Banks ‘refuse to pass on rises’

Banks are leaving savers “billions of pounds out of pocket” by “refusing” to pass on rises in interest rates, said The Times. More than £9bn has “remained in bank coffers” when it could have been paid to customers if interest rates on savings accounts had kept pace with the base rate, said the paper. The regulator discovered that 40% of all cash held in easy-access savings accounts with Britain’s nine biggest banks was earning less than 1% interest at the end of June.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up
Latest Videos FromThe Week US

Explore your latest briefing

Explore your latest briefing