Savings up despite rate falls

The continuing decline in return on deposits does not seem to deter people from getting back into the habit of saving, writes Emma Kennedy.

1st September, 2012
The latest KBC savings barometer shows that Christmas is the next goal for many Irish savers. Photo: Thinkstock

Anumber of new deposit products have been introduced over the last few months, with some interesting ideas from banks. However, interest rates are under pressure, so savers face a continued decline in the return on their deposits.

With the European Central Bank (ECB) set to make its monthly interest decision this week, savers should get some indication of what lies ahead. A few weeks ago, experts were predicting a rate cut from the current 0.75...

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