The ECB Has Raised Rates: Which Interest Rates Are Going Up—and Which Aren’t

The ECB is raising the deposit rate by 0.25 percentage points—meaning banks will now receive 2.5% interest per year on deposits held with the central bank. This is also good news for private consumers with overnight accounts. However, interest rates on time deposits have already risen slightly—and, unfortunately, so have the interest rates on the remaining balances of home loans, which could become significantly more expensive…