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Interest rates
Posted: Mon 20 Apr 2020 6:59 pm
by Deniz1
Had a call from my bank my interest has gone down by 7%. Not unexpected though.
Re: Interest rates
Posted: Mon 20 Apr 2020 7:32 pm
by Brinsley
That answers the rapid decline in TL against £ $ € Et al.
Re: Interest rates
Posted: Mon 20 Apr 2020 7:34 pm
by IPA
For TL? The rate is not unexpected but not good for investors with limited returns
Re: Interest rates
Posted: Tue 21 Apr 2020 7:55 am
by gates
what rate you getting now then if it gone down buy 7%
Re: Interest rates
Posted: Tue 21 Apr 2020 9:02 am
by Chriswright03
Still better than the UK though. Down to 0.25% for Nationwide.
Re: Interest rates
Posted: Tue 21 Apr 2020 10:36 am
by Deniz1
8%
Re: Interest rates
Posted: Tue 21 Apr 2020 12:47 pm
by Hair Cut
Your lucky, our were dropped to 9% months ago.
Re: Interest rates
Posted: Tue 21 Apr 2020 3:10 pm
by laptatony
Getting 9.5% TL and 3.75% GBP obviously then less tax
Re: Interest rates
Posted: Tue 21 Apr 2020 3:29 pm
by Striker
Not really. The banks thanks to erdogan increased the tax on both tl and sterling recently.
Realistically getting the percentage drop and paying more tax on it . Hurts most people especially locals .
Re: Interest rates
Posted: Tue 21 Apr 2020 3:32 pm
by erol
Striker wrote: ↑Tue 21 Apr 2020 3:29 pm
Hurts most people especially locals .
Hurts people with savings. To those without savings it makes no difference at all. To those with very little savings in hurts very little. I am not sure if 'most people' fall in to the category of 'with no or very little savings' or not ?
Re: Interest rates
Posted: Tue 21 Apr 2020 3:42 pm
by EnjoyingTheSun
erol wrote: ↑Tue 21 Apr 2020 3:32 pm
Striker wrote: ↑Tue 21 Apr 2020 3:29 pm
Hurts most people especially locals .
Hurts people with savings. To those without savings it makes no difference at all. To those with very little savings in hurts very little. I am not sure if 'most people' fall in to the category of 'with no or very little savings' or not ?
I think the lower interest rates are weakening the TL which is a big problem as the price of oil which is fundamental to most economies is measured in dollars so will be more expensive. So transport costs, energy etc goes up which means the cost of living goes up.
On the positive the price of oil is disappearing up its own backside so it isn't an issue at the moment but long term it will be.
Re: Interest rates
Posted: Tue 21 Apr 2020 4:16 pm
by Deniz1
The price of oil has dropped dramatically with low demand so in theory energy costs should go down. Wont hold my breath though.
Re: Interest rates
Posted: Tue 21 Apr 2020 4:21 pm
by erol
Deniz1 wrote: ↑Tue 21 Apr 2020 4:16 pm
The price of oil has dropped dramatically with low demand so in theory energy costs should go down. Wont hold my breath though.
Not just dropped but in some forms and places hit negative as incredible as that seems. That is is some instances producers of oil were paying people to take it away !
How long if ever before we all see a significant drop in electricity and fuel prices here remains to be seen.