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How to stop your savings being eaten – Inflation and negative interest rates are nibbling away at your cash in the bank Thumbnail

How to stop your savings being eaten – Inflation and negative interest rates are nibbling away at your cash in the bank


We are quoted in the Independent today by Sinead Ryan

"The chances of winning the lottery expressed as a percentage looks like 0.00001pc. I used to ask, ‘would you invest money in a bank account paying that rate?’, I can’t really do that now as the logical answer has sort of shifted to “yes, I’m currently getting -0.5pc”.

So tweeted Marc Westlake, MD of Global Wealth, a Chartered Financial Planner. 

Both Bank of Ireland and AIB, our two largest banks, have been making inroads into negative interest rates, albeit reserved for high net-worth individuals – for now. It’s hard to get out the violin for depositors with more than €1m languishing in the bank, but the -0.5pc the European Central Bank has been charging to hold cash for the last six years has to be factored in eventually for all.

The full article can be found here


To see our analysis how to maximize the return on your savings please see here 


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