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According to Pierre Wunsch, head of the National Bank of Belgium (NBB), banks still have room to give savings rates an extra boost. He said this in an interview last weekend with the “De markt” program on VRT.
Why is this important?
The European Central Bank's monetary policy tightening gives banks additional room to increase savings rates. Our country now has five savings accounts that generate a return of no less than 3 percent.In the news: Despite the recent increases in interest rates, according to Funch, banks still have room to increase savings rates slightly.
- “If they have margin, it makes sense for them to give,” the governor said. But he points out that it is a process that “will not happen quickly.”
The European Central Bank plans to cut interest rates
Why is this statement notable? The consensus is that the European Central Bank will cut interest rates later this year.
- This means that interest margins b
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