Overnight money and checking accounts: interest rates for savers will continue to rise for so long

2023-07-29 08:52:03

The European Central Bank (ECB) raised interest rates again on Thursday by a quarter of a percentage point. The interest rate at which banks can borrow money from the ECB is now 4.25 percent; the interest that banks receive for deposits at the ECB is 3.75 percent. A big question at the moment is whether this was the last step. The other is what a possible peak in interest rates means for savers.