Higher bills hitting savings growth, says BBA

Some people are saving less because they are having to pay higher household bills, figures have suggested.

Personal deposits and savings in the High Street banks rose by £6.1 billion in the first six months of 2011, the British Banker’s Association (BBA) said.

That compares with £15.9 billion in the same period of the previous year, suggesting that higher bills could be having an impact, the group said.

Mortgage lending and credit card borrowing remained subdued, it added.

Read the full article at bbc.co.uk

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