LONDON (CU)_Recent data issued by the Bank of England has revealed that things are going from bad to worse for savers in the European nation, as interest rates continue to fall “to new historically low levels”. According to the Central Bank, since pandemic-induced lockdowns began in March last year, people have set aside more than £200 billion in cash savings accounts. However, some of these funds are earning a pittance, with one in eight easy access savings accounts in the UK, including HSBC’s Flexible Saver, Halifax’s Everyday Saver and NatWest’s Instant Saver, paying only 0.01 per cent interest, according to financial data provider Moneyfacts.
Another big challenge which is eating away the value of people’s savings is…
