Rate hikes also for conservative savings
Protecting capital from inflation is forcing even the most cautious investors to review where they put their money.
The European Central Bank's recent interest rate hike to 2.5% is good news for conservative savers in Spain. However, the interest rates offered by generous banks on deposits are still below the inflation rate. Traditional banks are also hesitant to pass on rate hikes to deposit interest rates. This is significant for Spaniards, who predominantly save in a conservative manner.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
