The BCT council decided, at the ending of its last meeting, to raise the key rate significantly; with an increase of 75 basis points; to bring it down to 7%. While, still below the inflation rate which pranced in April 2022, at 7.5.
The BCT has not touched its key rate since January 2021, it was then 6.75, after having increased, in March 2020, to 7.75%. This growth, although it will certainly not be welcomed by everyone, seeks to avoid the problems of double-digit inflation as much as possible. Moreover, and in an try to mitigate the psychological impact of this measure and to boost savings a little, the Board of Directors of the BCT has, in parallel, decided to improve the remuneration of the savings of 100 basis points. It, therefore, goes from 5% to 6%. Good news for citizens, at least those who can still afford to save.