by Niels Saelens
published on Friday, December 29, 2023 at 5:04 PM •
4 min read
CKV is the first bank to (again) adjust the savings interest rate upwards next year. The question is whether other financial institutions will also follow up on this year’s interest rate increases in 2024. Much will depend on the interest rate policy of the central banks. In the United States, markets are already preparing for multiple interest rate cuts.
Why is this important?
Central banks started raising interest rates last year. Such an intervention is necessary when inflation reaches peak levels. This has now weakened, allowing both the Federal Reserve and the European Central Bank (ECB) to halt interest rate increases in recent months. It is far from impossible that the monetary institutions will cut interest rates next year.
In the news: CKV will increase the savings rate on January 1, 2024.
- The interest on the regular savings account will then rise from 2 to 2.5 percent.
- CKV will thus offer one of the most lucrative savings accounts on the Belgian market. Only 11 of the 63 savings accounts (for adults) are more profitable, the comparison shows Spaargids.be.
Will other banks follow?
Context: Almost all banks in our country have boosted savings interest rates this year.
This premium article is exclusive to subscribers
Now read 3 articles for free per month!
Do you think ahead, about the future of tomorrow? Business AM is your guide through change. Don’t follow the facts and be part of Flanders’ fastest growing business website.
Already a subscriber? Log in and get access to all premium articles.
2023-12-29 16:05:16
#savings #interest #rates #rise
