Shoppers report rising food shortages; growers warn UK leek supplies may run out – as it happened
Proportion of people experiencing shortages of food items has risen over the last year, ONS says
The days of UK banks raking in profits from the gap between low savings rates and high interest charged to mortgage and loan borrowers may soon be over.
Fitch Ratings predicts this morning that UK banks' net interest margins are close to peaking.
Net interest income increased materially in 2022, driven by rising interest rates, supporting the strong profits reported by the UK's largest banks in their recent results announcements
We expect mortgage spreads to narrow due to higher swap rates and continued competitive pressures.
Funding costs are likely to increase as the recent policy rate rises gradually feed into higher deposit costs, with customers seeking the best rates available, and as wholesale funding is refinanced at higher cost.
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