In the opinion of Oskar Sokovsky, an expert on human rights education, the dynamics of interest rate increases will be smaller. He pointed out that July is the ninth consecutive month in which banks adjust their deposit offerings.
The best deposit and savings accounts allow you to earn up to 7-7.5 percent. every year. This is a big change, because at the beginning of this year the maximum was about 3 percent. pointed out.
Sukowski noted that changes in interest rates can be seen “more clearly if we look at the data on the average annual deposit rate (longer than 6 months, but up to 1 year)”.
– Data from the National Bank of Poland show that in September 2021, that is, before the interest rate cycle increased, the average interest rate was 0.17%. every year. The most recent information available summarizes June of this year. At the time, the average annual deposit rate was over 4.6%. – Report.
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The expert noted that the highest changes in interest rates were observed in May and June.
– According to NBP data, the average annual deposit rate in May increased by 1.05 percentage points. percent compared to April. Practically similar change can be observed if we compare June and July – it lists. – And while NBP has not summed up the last month yet, the rate of rate hike is expected to be lower. At least it is suggested by monthly information on the best interest-bearing deposits and savings accounts – Sękowski’s predictions.
Banks responded to the government’s call
One HRE analyst noted that the average interest rate for the best products on our list in May was “about 4.0 percent.” In turn, in June it was “about 5.3 percent, which means a rise of 1.3 percentage points during the month.”
However, when comparing the latest information, the average interest rate on the best deposits and savings accounts increased by 0.7 percentage points. percent So we still have an increase, but it’s more modest than what we noticed in May and June – added.
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