UK regulators could enforce minimum interest rate for savers

Billions of pounds in low-interest accounts are a crucial source of profits for banksBanks could be forced to pay savers a minimum interest rate after City regulators found that longstanding customers in instant access accounts are paid derisory rates because of their apathy about switching providers. The Financial Conduct Authority said a new basic savings rate would be aimed at improving returns for savers, as it admitted that past attempts to improve competition between banks had failed to im