Joe Garner, chief executive of the Nationwide, said the squeeze on households would get worse before it gets betterNationwide has warned that the economy faces challenges and that are households under pressure. That should ease when inflation starts to fall, he added, but the improvement was likely to be “gradual”. Nationwide continued to see its statutory profit fall in order to protect savers from ultra-low interest rates. Pre-tax profit was £628 million in the six months to September 30, compared with £696 million last year. Average savings rates were maintained at 50 per cent more than the…

Source: The Times November 17, 2017 09:00 UTC