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"I know that he has met not too long ago with the FCA and they have got agreed to deliver better offers for savers by driving Competitors and increasing reporting, which I believe These are doing in the next number of weeks, especially, to be sure that savers are benefiting from higher curiosity fees," he advised MPs.

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Now fascination premiums are escalating, banking institutions are "widening the spread" concerning what they demand borrowers and pay savers, King provides.

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