Banks to slash savings rates in 2012

Banks are set to slash savings rates in the new year after stockpiling deposits for the Central Bank's end-of-year deleveraging review, according to finance industry sources. Banks are holding depo

13th November, 2011

Banks are set to slash savings rates in the new year after stockpiling deposits for the Central Bank's end-of-year deleveraging review, according to finance industry sources.

Banks are holding deposit rates steady - despite the expectation of a further cut in the European Central Bank rate - to help improve loan-to-deposit ratios for their December progress reports to the Financial Regulator. But they are expected to cut them quickly in 2012 to improve margins and...

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