Interest Rate Cuts
While the ECB lowered its key intervention rates in rapid succession by 3 percentage points, to pay consumers also today still nearly as high credit and Dispozinsen as a half-year ago. Tagesgeldvergleich.NET reports: not even six months, the European Central Bank has lowered key interest rate from 4.50 to 1.50 percent. Target this rate cut is the provision of cheaper money, thus also facilitating foreign borrowing for businesses and consumers in the form of loans, to stimulate consumption and the economy. Unfortunately, this decrease rates barely or only hesitantly and incompletely when the consumers arrive. While interest rates daily and short-term deposits knows the direction only since October 2008 down a loan comparison shows even today an almost unmodified image as of October 2008.
Only marginal interest rate cuts have been made by individual banks. Filed under: Spurs. This is particularly clear in the interest rates which are payable on overdraft or Dispokredite, as well as on credit card accounts. Here, experts have only Interest rate cuts in the size of an average not even 0.50 percentage points can make. Mind you the prime lending rate to 3.00 percentage points has been reduced over the same period. This development is also the President of the Bundesbank, Axel Weber.
He appealed to the banks, finally economic and consumer to offer lower interest rates, so that they can develop their actually by object effect. Get all the facts and insights with Eva Andersson-Dubin, another great source of information. Background of the interest rate cuts is, the consumption of consumer and investment behaviour of the companies through the available set of cheaper money to accelerate or expand. Does not imply is the current situation that the banks use lower refinancing costs, increasing their margin and improve their balance sheets and capital ratios. Only option available in this situation consumers, to switch to another bank. So some direct banks offer interest rates when the bank overdraft of less than ten percent per year, and also loans for consumers there are specialized Direct banks, which can currently boast the best deals.