Japan's central bank raises its key interest rate as expected from 0% to 0.25% - the first increase since 2000.
http://news.bbc.co.uk/1/hi/business/5178822.stm
2006-07-14 01:05:54 · 6 answers · asked by navinsohanpal 1 in Politics & Government ➔ Politics
But banks employ staff & need to pay them.. at 0% you could borrow thousands - put it in a high interest account in a foreign bank & retire...
0% lovely - but not practical.. Japans government is artificially keeping it low..
Our banks do screw us though - that should be stopped - go overdrawn by 30p and get £30 charges - yeah, how much do they pay computers? thats who bills you...
2006-07-14 01:25:32 · answer #1 · answered by want_to_explore_life 3 · 1⤊ 2⤋
Because in England we're all too stingy to bother saving if there's no interest - and if there's no cash for the banks, then there's no loans / credit cards / investment, and the whole caboodle crashes!
; )
Anyway, reading some of the answers, I get the feeling that some people think there's little or no interest on loans too! That's obviously NOT the case, loans and credit cards have about the same rate of interest as in the UK - it varies from company to company of course, and for loans the larger the amount, the less interest you pay - for credit cards it varies too, as do the charges! Overall, the rates of interest for loans and credit cards vary enormously from about 10% to more than 30% - just like in England!
; )
Until recently, my husband's bank account received 0.01% p.a. interest...! Until he receives a statement saying so, I don't know whether his rates have even gone up at all...! You know how SLOW the banks are when it comes to dishing money out instead of taking it in...!
2006-07-20 22:54:40 · answer #2 · answered by _ 6 · 0⤊ 0⤋
When this excuse for a Government came to power, they gave the rights to set interest rates to the Banks. If you put pigs in charge of their own trough then you have the same results. They are allowed to set their own heinious, punitive charges and fleece the public - legally !!
2006-07-14 01:10:59 · answer #3 · answered by sandi smith 3 · 0⤊ 0⤋
Hi,thanks for the points.The banks are way too greedy,they are trying to get the rates up & if we get the tories back in the rates will go through the roof.The more money people have the more they want,im on about millioners.Ollie
2006-07-14 01:42:28 · answer #4 · answered by Ollie 7 · 0⤊ 0⤋
yes but they were in resesion
but if unemlpoyment low intrest high now why would that be i wonder
whole system is a scam
2006-07-14 01:11:01 · answer #5 · answered by Anonymous · 0⤊ 0⤋
GREED!!!!!!!!!!!!!!!! i think Japan is a mostly Buddhist country,any questions?
2006-07-14 01:08:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋