Savings Lift Helps Blunt UK Household Mortgage Pain 

  • Analysis suggests rate increases taking longer to slow economy
  • Findings complicate the Bank of England’s inflation fight

The Bank of England’s interest-rate increases are benefitting savers more than they’re costing mortgage payers — for now at least.

A Bloomberg analysis of data from the central bank indicates that UK households are on aggregate about £10 billion ($12.7 billion) a year better off as a result of a jump in interest rates. While those rates will feed through in time to mortgage payers, it’s savers who are enjoying a more immediate increase in income.