british lenders will likely have to pass on all of the bank of england’s record rate hikes to some savers a jpmorgan chase  co analyst predicted as he warned of intensifying risks to profits in the sector “with increased political pressure we believe that deposit passthrough is likely to be closer to 100 on interestbearing time deposits with negative implications for deposit migration and loan books” raul sinha wrote in a note to clients time deposits are savings that can’t be withdrawn without penalty for a fixed period lenders in britain and elsewhere are expected to compete for deposits by offering savers higher rates of interest the opposition labour party’s lisa nandy at the weekend called for measures to be introduced to force banks to pass more of the rate hikes on to savers read boe steps up inflation fight with surprise rate hike to 5 jpmorgan’s sinha downgraded lloyds banking group plc to underweight from neutral the first time jpm has recommended selling the stock in more than a decade according to data compiled by bloomberg he cut the stock to neutral from overweight on nov 1 since when it has risen 07 net interest income is nearing a peak sinha said cutting his consensus earningspershare forecasts for the sector by 39 for fiscal 202425 the probability of a hard landing for the uk economy has increased due to restrictive boe policy he added “we remain cautious and continue to see domestic uk banks underperforming the broader sector” he said keeping natwest group plc at neutral and barclays plc at overweight lloyds shares fell as much as 25 in early trading amid broader weakness in european bank stocks barclays fell 25 and natwest was down 15