You always see the banks announcing their interest rates. This goes for the European Central Bank and for national banks alike. In what way does this actually function? I would like to get some more information about this. If you can answer the question, it would be nice if you would.
These are decisions of the banks in question to keep up with the objective situation that a country's, or economic area's, economy is facing at that time. They usually to keep the rates as low as possible, but sometimes they do have to go up. These announcements follow the most serious analysis of the situation.
