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Banks Asked To Raise Rates

Banks Urged To Raise Rates

Save Our Savers group have wrote to every member of the Bank of England's rate-setting committee asking them to raise the interest rates.

The group are angry because the value of savings have fallen by £50bn in the last year because of the base rate remaining at 0.5%.

The letter said, "For many this is not a temporary setback. Its effect will permanently reduce the value of their future income,"

 

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