Tag: Interest rates
Inflation in Finland accelerated to 3.6 percent in December
Inflation began to pick up after sustained low inflation in 2021 and eventually peaked at 9.1 percent in November and December 2022. According to Statistics Finland, consumer prices rose from the previous year, especially due to the higher average interest rate on mortgages, interest on consumer loans and the price of ready-made trips outside the…
This is how you should think about mortgages and savings in 2024
Savings economists Frida Bratt, at Nordnet, and Christina Sahlberg, at Compricer, talk about why the autumn's strong stock market gains are continuing. And gives tips on how to reduce mortgage costs as much as possible if interest rates start to fall. Ekonomiakuten is the podcast that gives you the best tips for saving money and…
Basic interest rates remain unchanged
The Monetary Policy Committee of the Central Bank of Iceland (Seðlabanki) has decided to keep the bank’s interest rates unchanged. The bank’s main interest rate, i.e. the seven-day fixed deposit rate, will therefore remain at 9.25%. Inflation in October decreased slightly on a monthly basis and amounted to 7.9%. Core inflation also weakened. There are…
The key interest rates of the Central Bank of Iceland remain unchanged
The monetary policy committee of the Central Bank of Iceland has decided to keep the bank’s interest rates unchanged. The bank’s main interest rate, i.e. the seven-day fixed deposit rate, will therefore remain at 9.25%. The Central Bank announced its decision at yesterday’s press conference. So far, key interest rates have been raised 14 times…
Finland’s largest landlord raises rents by an average of 12%
The city-owned Helsinki city housing company Heka says that the rents of its more than 1,600 apartments are rising due to higher operating costs and interest rates.
Loan interest rates in Finland quadrupled
Interest rates on government loans will quadruple next year compared to 2022.
CEO of OP: The days of zero interest rates are over
OP Financial Group CEO Timo Ritakallio said on Yle TV1’s Ykkösaamu talk show that apartment prices would also continue to fall.
Monday's papers: Prices nudge up, Finns' love of wfh and oligarch assets
Mortgage interest rates are fuelling inflation.
"Nothing is left over, but we manage": Yle readers share stories of mortgage pain
Mortgage-holders tell Yle about their challenging financial situations as rising interest rates drain bank accounts.
Friday's papers: SPP divisions, interest rates and strawberry fraud
How can you tell if a strawberry marketed as Finnish origin is in fact domestic?
The peak of interest rates may be close, the OP economist estimates
But the economist noted that “it cannot be ruled out that the 12-month Euribor could rise to five percent.”
The US central bank leaves interest rates unchanged
The US central bank, the Federal Reserve, leaves interest rates unchanged. The latest announcement in May was the tenth increase in a row and the interest rate then ended up at the highest level since 2007. Hear Mattias Persson, Chief Economist at Swedbank.
Inflation hits young adults the hardest
Expensive food has hit everyone’s wallets, but the bite of inflation is now felt most in families aged 25-34 as housing interest rates rise.
Finnish students are worried about getting into debt: "I have fallen off the property ladder"
Young adults are facing financial hardship from their student loans due to rising interest rates and the cost of living.
Union leaders are concerned about the interest rate hike by the Central Bank
The Central Bank’s decision to raise key interest rates by 1.25% sparked a strong reaction from union leaders. Sonja Ýr Þorbergsdóttir, chair of the BSRB, said the government must take action to protect the most vulnerable. The SGS chairman noted that Icelandic households are “devastated”. In an interview with the radio program Morgunvaktin, Sonja Ýr…
High interest rates can weaken the economy more than expected, warns the Bank of Finland
Loans taken out at low interest rates “may turn out to be too large, even though the household’s financial situation should be sufficient to take care of repayments,” says the central bank’s deputy governor.
HS: Mortgage rates are expected to rise significantly in the coming years
“The situation has been quite favorable in recent years from the perspective of mortgage borrowers. Euribor rates have been in the negative range, which has basically meant that the base rate has been zero in most loan agreements. Mortgage borrowers have practically only paid margins, “he explained to the newspaper. The interest rate on a…
Central Bank raises key interest rate to 2%
The Monetary Policy Committee (MPC) of the Central Bank of Iceland decided to raise the bank’s interest rates by 0.5 percentage point. The bank’s base interest rate will therefore be 2%. This is the fourth increase in the bank’s interest rates since May, pointing to a change of direction as economic forecasts improve. The main…
Inflation is accelerating again as fuel prices rise
According to figures released by Statistics Finland on Monday, inflation was 2.2 per cent in May. In April, inflation was 2.1 per cent. The increase in consumer prices from the previous year was due to higher prices for petrol and diesel and higher home purchase costs. Consumer prices rose by 0.2 per cent from April…
Mortgages will grow again in April, the central bank says
According to the Bank of Finland, new household mortgages in Finland in April amounted to about EUR 1.9 billion, which is EUR 482 million more than in the corresponding month of the previous year. At the end of April, Finland’s housing loan stock was EUR 104 billion; according to the central bank, the loan stock…
Mortgages more expensive in 2023
In SBAB’s new report, in which forecasts of housing interest rates are analyzed, the assessment is made that inflation is now rising faster towards the inflation target than previously predicted. The variable mortgage rate is now expected to rise to 1.6 per cent by January 2023 and then 2.2 per cent by January 2024, and…
ECB warns of zombie companies
The extremely low interest rates and corona subsidies aimed at companies mean that many thousands of companies in the EU are struggling, even though they are not really viable. The European Central Bank (ECB) is now warning of the risk of these so-called zombie companies. In addition to posing a risk of setbacks during the…
Minister on negative interest rates: Banks must make money elsewhere
– We have reached the limit of how much the banks can continue to impose negative interest rates on ordinary bank customers. – There is a mismatch between how much money the banks earn and that they impose negative interest rates on more and more Danes, and therefore I say stop now, he says. The…
The Riksbank expects zero interest rates for three years
The Riksbank leaves the key interest rate at zero and does not adjust the volumes in its support purchase program, according to a press release. According to the Riksbank’s own interest rate forecast, the so-called interest rate path, the key interest rate will remain at zero throughout the forecast period – ie until the second…
Finansinspektionen warns: New borrowers are taking out ever larger mortgages
Finansinspektionen’s mortgage report, which they presented today, shows that households’ loans in relation to income, which is called the debt ratio, have risen to a record level – just over 300 per cent. A hot housing market in combination with extremely low interest rates is believed to be part of the explanation. If the interest…
Important message to the public in Björklinge, Skuttunge, Läby in Uppsala municipality, Uppsala county.
The US Federal Reserve is not expected to touch on the key interest rate, but the market is hoping to know when the next rate hike can take place in the future. Major stimulus packages and vaccination programs have pushed up growth forecasts, inflation expectations and long-term interest rates, and the question is how the…
Guide to borrowing money online
There are many ways to borrow money online and not least opportunities to find cheap and attractive loans. Here you will find a guide on how to borrow money online so that you end up with a loan that matches your needs and desires. Read on! We may all need or want to borrow money…
The expert: The Mafia benefits from the pandemic
When people end up in financial problems due to the pandemic, it means increased opportunities for the mafia to conduct illegal lending activities with high interest rates, says researcher Carina Gunnarsson at the Institute for Future Studies. On Wednesday, the second largest mafia trial ever began in Italy, against the now most powerful mafia organization…
Take care of your children and avoid negative interest rates
If you can not stand the thought that your savings are slowly being eaten up by negative interest rates, then consider whether it is now that you should pass on some of the money to your children – either as tax-free gifts…