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Search resuls for: "Sinead Cruise John O'Donnell Tom Sims"


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☆ Analysis: Fed up with shrinking savings, Europeans drain billions from banks
  + stars: | 2023-05-04 | by ( Sinead Cruise John O'Donnell Tom Sims | Sinead Cruise | John O'Donnell | ) www.reuters.com   time to read: +5 min
Lenders wasted little time in charging more for loans when interest rates rapidly rose from an almost 15-year slumber around zero last year, but most have dragged their feet on boosting deposit rates paid to millions of their customers. Money market funds are proving popular among savers seeking bigger returns on their cash as high levels of inflation persist. Data from Refinitiv Lipper showed more than 34 billion euros ($37.6 billion) of net flows into European money market funds in March, the best-selling asset type that month. Fidelity International also reported an 8% year-on-year uplift in flows into money market funds on its investment platform between Jan. 1 and April 26. Some lawmakers have criticised banks for the mismatch between what they charge borrowers and the interest rates offered to savers.
☆ Fed up with shrinking savings, Europeans drain billions from banks
  + stars: | 2023-05-04 | by ( Sinead Cruise John O'Donnell Tom Sims | Sinead Cruise | John O'Donnell | ) www.reuters.com   time to read: +5 min
Lenders wasted little time in charging more for loans when interest rates rapidly rose from an almost 15-year slumber around zero last year, but most have dragged their feet on boosting deposit rates paid to millions of their customers. Money market funds are proving popular among savers seeking bigger returns on their cash as high levels of inflation persist. Data from Refinitiv Lipper showed more than 34 billion euros ($37.6 billion) of net flows into European money market funds in March, the best-selling asset type that month. Fidelity International also reported an 8% year-on-year uplift in flows into money market funds on its investment platform between Jan. 1 and April 26. Some lawmakers have criticised banks for the mismatch between what they charge borrowers and the interest rates offered to savers.
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