The European Central Bank (ECB) has already lowered its key interest rate twice this year. This is not good news for small savers, because it also worsens the conditions for savings products. The “Krone” has looked at what is currently in it. Conclusion: action is required.
For ten years, savers watched through their fingers. There has been an increase in the past two years – albeit with high inflation. Recently, however, inflation has been falling and the ECB has initiated a turnaround in interest rates. What makes Häuselbauer happy is not good news for savers. If the policy interest rate falls, the savings interest rate also falls.
It is therefore all the more important that everyone who has not yet secured better conditions takes action quickly. It’s a lot of money. Private households have almost 310 billion euros in deposits with banks. Nearly two-thirds of these are untied and therefore receive little or no interest.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
