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bailed-out banks hit savers with interest rate cuts

Published: 02/02/2009

Daily Telegraph (Main) – 2nd February 2009

 

Banks part-owned by taxpayers have hit savers by cutting their interest rates nearly seven times as much as the Bank of England, research shows.

 

About 27 per cent of variable rate savings accounts already pay interest of one per cent or less, with one in eight paying 0.3 per cent or below, according to the website Moneynet.co.uk.

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