Banks cut savings rates to ‘rock bottom’

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    And so interest rates have remained at rock-bottom levels. The US central bank — the Fed – did manage to increase its key interest rates to close to 2.5 per cent.

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    Savers no longer have to settle for rock-bottom yields. Thanks to online banks, it’s possible to earn a decent return on a CD, a savings account or a money market account.Without branches, most.

    2015 marks yet another year of rock-bottom savings rates; it’s frustrating, but not really news to savers who are trying to simply keep pace with inflation.GOBankingRates’ June 2015 savings rate survey found that little has changed in recent months, with average savings account rates at banks and credit unions holding steady at just 0.18% APY.

    How does the Fed rate cut affect your wallet and what are the next steps you should take?. banks to their customers on their money-after the said rates hovered close to rock bottom for a long.