Philippa Whitham
Senior Director
3 April 2024
Since December 2021, the Bank of England has been steadily increasing interest rates, elevating the base rate from 0.25% to 5.25% in August 2023.
With rates at their highest since 2007, banks have responded by offering new savings products and/or higher interest rates to businesses, many of whom did not exist last time rates were so high.
Savanta recently asked businesses in Northern Ireland whether they had taken any actions on their usage of business savings accounts with recent increases to interest rates.
Read the full NI story here.
Read the GB perspective here.
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