The great savings swindle – Banks are paying a pittance in interest despite seven ECB interest-rate hikes

Savers are being short-changed with €150bn in household savings being used by banks to subsidise mortgage rates

Central Bank Governor Gabriel Makhlouf told TDs and senators that Irish banks are making around €1.8bn a year by putting household and business deposits in the European Central Bank where the deposit rate is currently 3.25pc. Photo: Steve Humphreys

Charlie Weston

It has been called the great savings swindle.