Savings and Investments: Bank of Ireland Life warning on inflation
Damian Smith of Bank of Ireland Life has warned that Irish savers' wealth is being eroded by inflation because of the continuing low interest rates.
Damian Smith, the head of investments and protection at Bank of Ireland Life, has warned that Irish savers' wealth is being eroded by inflation because of the continuing low interest rates, rates which look set to fall further.
"We are in a low interest rate environment," said Smith. "If people have money that they do not have specific plans for within the next three to five years, they need to consider the impact of inflation...
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