Banks don't need our money any more....
in Savings & Investments
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Banks don’t need our money anymore! What does this mean for savings accounts?
Well, perhaps not at the moment and not for while.
Basically, what the article says is that mortgage demand is down, so banks don't need money from savers.
This does make some sense although individual banks (and building societies) may have a short term shortfall that could result in an increase in some savings rates.
Overall though it sounds like there won't be much joy for savers for a while yet.
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