Banks Fail Borrowers and Lenders Alike - Nicola Horlick


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The disparity between savers' returns and borrowers' rates grows wider

Money&Co. CEO Nicola Horlick lambasts UK banks and their policy on savings and loan rates in a her latest, hard-hitting blog.

"There is no justification for the banks to reduce interest rates for savers. They certainly are not reducing the rates they charge borrowers," she argues.

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As reported earlier this week on this site, "half a million savers at Royal Bank of Scotland (RBS) and NatWest will see their interest rates cut by the end of the year as part of what banks are describing as a "simplification" of their product ranges."

The Money&Co. CEO's comments come on the back of a series of articles sharply critical of the banks, with the Telegraph leading the charge.

She also points out that stockmarket investors have suffered dramatic real-term losses, with the UK market still off its all-time high of 31 December 1999.



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