The Bank of England is expected to push interest rates up again today Here's what impact that could have, from mortgages to savings and the wider economy 📧 Read our Early Edition newsletter from jacquelinehead
, the seven biggest high-street banks earned nearly £5bn more in additional earnings last year by raising rates for borrowers, while keeping them low on savings accounts. The practice has led to the banks being accused of “profiteering” at a time when the public is struggling due to the cost of living crisis. Martin Lewis, of MoneySavingExpert, said there was now a “moral argument” for banks to pass on higher rates to savers, rather than making money for their shareholders.
Four people were in critical condition on Wednesday evening. The injuries were sustained mainly when people were blown off their feet by the blast.
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