BBCNEWS Talking Business June 4, 2024 01:32:00
To tackle inflation. and while banks have been lightning fast in passing on those rising rates to those who borrow from them, those who save with their banks, well, they've not been seeing the same immediate reaction. if they want higher rates, they often have to shop around and move their money. in the united states, the world's biggest economy, you can see the difference. the average interest rate for someone wanting to take out a 30—year mortgage is around 7%. but the average rate for savers? it's a lot less. just 0.35% a year. so, if you put $1,000 into the bank, you would earn just $3.5...