Another Banking Question

batterboy58



Joined: 20/04/2008
Posts: 442

Message Posted:
25/11/2008 03:41

How long do members think that high interest rates on TL accts will continue for and what events could you forsee that may change things.

deecyprus4


Joined: 27/07/2008
Posts: 3452

Message Posted:
25/11/2008 06:11

joining the eu, inflation dropping in turkey,but not much chance of that for the forseeable future

batterboy58



Joined: 20/04/2008
Posts: 442

Message Posted:
25/11/2008 12:44

Can anyone say how long high interest rates will be sustained for and why.

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
25/11/2008 13:14

they can't last forever.....



But no one can tell you how long they can remain at this level....



If you are relying on the high interest rate funding your lifestyle over here and do not have anything else to fall back on, you are sitting on a ticking time bomb.....





Nick

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
25/11/2008 13:32

Might be worth splitting your TL, leaving half on a monthly account and put the other half in a yearly account so if rates do drop at least you have the good rate for 12 months.

We of course dont do that but it may suit some.

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
25/11/2008 13:49

interest rates are generaly higher on more volatile currencies where they need to attract money. After all a 15% drop in the value of the currency against the major currencies would wipe out the difference in rates. Its all a matter of risk if we knew the answers we would not work just play the currency markets.

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
25/11/2008 13:59

Depends if you are an optimist or a pesimist.

CJtill has the best idea if you cannot decide.