December 3, 2019
German lenders open floodgates to negative rates for all savers
By admin | |
After five years of negative rates imposed by the European Central Bank, German lenders are breaking the last taboo: Charging retail clients for their savings starting with very first euro in the their accounts. They are preparing for a prolonged period of negative rates as Europe’s economy slows. In September, the ECB reduced the deposit rate to minus 0.5%.