Jeremy Hunt will demand the major banks pass on higher interest rates to savers during a summit on Friday, amid growing calls for the financial sector to do more to help customers
, the seven biggest high-street banks earned nearly £5bn more in additional earnings last year by raising rates for borrowers, while keeping them low on savings accounts.
It comes against a backdrop of growing discontent over the amount of money banks have been making as a result of the base rate increasing from 0.1 per cent in December 2021 to an expected 4.75 on Thursday.
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