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UK banks are ‘failing on social duty’ with low deposit-account interest rates, lawmakers say

By Fiona Maxwell ( July 3, 2023, 09:43 GMT | Insight) -- British lawmakers today stepped up a longstanding campaign of questioning the biggest banks on why they offer such low rates on their easy-access savings accounts, despite the Bank of England's base rate being at 5.0 percent amid a continuing period of high inflation.The UK's biggest banks have been accused again of failing to do the right thing by maintaining low interest rates on their customer savings accounts while borrowing rates are rising sharply....

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