The recent increase in interest rates by the Bank of England has shone a spotlight on the actions of the major banks. The uplift of 0.25% was automatically passed on to the millions of borrowers with tracker rate mortgages, but the majority of savers with variable rate accounts are yet to see any improvement. Banks and other financial companies are one of the few sectors of the economy to benefit from higher interest rates as they are able to increase the margin between the rates they charge on mortgages/personal loans and what they have to pay out on deposits. As interest rates around the world gradually start to edge up these institutions should see an improvement in their profits. |
Ingen kommentarer:
Send en kommentar