Interest rates on fixed deposits are experiencing a renewed decreaseMon 18th Dec, 2023In a notable turn of events, interest rates on fixed-term deposits have experienced a decline for the first time in approximately a year and a half. The European Central Bank (ECB) has been grappling with high inflation in the eurozone since July 2022, implementing ten consecutive interest rate increases. The recent pause in interest rate adjustments precedes the ECB's upcoming monetary policy decision scheduled for this Thursday. Similarly, five-year fixed-term deposits yield an average interest rate of 3.15 percent, compared to the previous 3.21 percent. Maier notes that regionally active savings banks and cooperative banks offer lower average interest rates than their nationally active counterparts.

Source: The Munich Eye December 18, 2023 22:31 UTC