Savings Hurt
The
higher-than-estimated
inflation and the low
rates of interest
delivered a heavy blow
to those who have
savings accounts, term
certificates, and
current accounts.
This is so because the
rates of interest paid
by banks do not
compensate for the
increase in prices.
While inflation reached
10.81 percent, the banks
paid around 6.60 percent
interest. Analysts say
that there is no
stimulus for savers, who
are likely to resort to
investment options
abroad. |
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