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The new rise in interest rates will further choke household economies with variable mortgages and will also make it difficult to take out new loans. Despite this, the central bank continues its fight to contain prices. The good news is that there is hope to soon see light at the end of the tunnel, despite the collateral damage of monetary tightening, which also has its good side: savings are beginning to pay off.
Without brake. The European Central Bank (ECB) continues without pausing the increase in rates. The latest increase in the official price of money has fallen like a bucket of cold water on households with mortgage loans referenced to Euribor, which is rising again. We will have to tighten our belts a little more or try to increase income. One way to do it is to put the money to work in a deposit, but how much does the bank now pay for your savings? The increase does not satisfy banking users.
Without truce. Inflation rose three tenths in August, to 2.6%, while food inflation continues to grow at double-digit rates, although less intensely than in previous months. The price of one of the foods that has become most expensive in the last year, olive oil, which is reaching stratospheric prices, also continues without moderating. But at the moment there are no signs that the trend will reverse.
Down. Among the collateral damage of the rate increase, the drop in home sales stands out, which decreased by 11% in July compared to the same month of the previous year. Everything that goes up must come down, a law that is fulfilled in the real estate market when credit begins to become scarce and citizens with little savings have no choice but to retire. Solvent buyers and investors cushion the fall for the moment, although there are formulas to start investing with little savings. In addition, there are movable assets that can also offer attractive returns.
The key. To face the economic challenges of the coming months, it is recommended to balance the budget by reducing spending or increasing income. In any case, it never hurts to reinforce the savings cushion, and in this sense there are old recipes to achieve this goal that work. But if the problem is the debts that accumulate, current legislation can help eliminate them.
Treasury bills, whose profitability tends to moderate, continue to attract the interest of conservative investors. In the last auction, the profitability of nine-month bills reached its highest level in more than a decade, although it fell in the case of three-month bills. Despite this, the average profitability of this type of product continues above 3%.
Before investing, you must have income, such as that provided by a stable job. An opportunity that has not been missed by the 160,134 candidates who this weekend are taking part in competitive examinations in 21 provinces to aspire to a total of 27,509 places in the General Administration of the State.
