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Interest Rate Cut: “Very Effective Property Tax“

Published: November 8, 2013; 17:10 · (Vindobona)

Economists have judged the ECB’s cut in interest rate differently. According to Brezinschek, chief analyst at Raiffeisen International, savers that are not involved in speculative investments will not benefit from the latest key rate cut.

Interest Rate Cut: “Very Effective Property Tax“ / Picture: © Raiffeisen Bank International / M. Schreiber

To Peter Brezinschek, chief analyst at Raiffeisen International, the measure by the European Central Bank (ECB) of further cutting the key rate to an all-time record low of 0.25 percent has come as a surprise. He regards yesterday’s interest rate cut as a kind of “property tax” at the expense of savers. According to Brezinschek, the ECB was not satisfied with the exchange rates of…

This article includes a total of 246 words.

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