Laith Khalaf: Cash culture is king

The Covid cash pile is still growing, and it's not paying much in the way of interest. As people have found themselves cooped up at home, with few ways to spend money beyond buying another piece of home gym equipment on Amazon, their bank accounts have swelled. Some £120bn was saved into bank and building society accounts between March and November 2020, up from £42bn in 2019. A new lockdown means even more money building up in bank accounts. At the same time, the average current account is paying just 0.13% interest, and there's £220bn sat in instant access accounts which pay no interes...