Cliff Taylor: What permanently low interest rates mean for you as a saver or borrower

Smart Money: A new era of super-low mortage rates – and pressure on banks to charge for your savings

A large red percentage sign sits on a roller coaster symbolising the ups and downs of interest rate directions.

A large red percentage sign sits on a roller coaster symbolising the ups and downs of interest rate directions.

There is no prospect of interest rates increasing over the next couple of years or – and probably longer – as the Covid-19 crisis plays out. But something else is changing,too.

Since the late 1980s interest rates have been on a general downward trend. For those taking out mortgages, or trying to manage savings, the message is that rock bottom interest rates now look like being the new normal, with huge implications for personal finances.

The Irish Times
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