November 2, 2017 / 4:19 PM / 2 years ago

After rate hike, May expects higher returns for savers - spokesman

Britain's Prime Minister Theresa May meets Israel's Prime Minister Benjamin Netanyahu in 10 Downing Street, London November 2, 2017. REUTERS/Joe Giddens/Pool

LONDON (Reuters) - Prime Minister Theresa May expects to see higher returns for savers following the Bank of England’s decision to raise interest rates, her spokesman said on Thursday.

“Following the rate rise, we would expect to see higher interest rates ... passed on to savers. Some banks have already said they will increase rates on their savings products. We would expect others to follow suit,” the spokesman told reporters.

Reporting by Elizabeth Piper; editing by William James

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