Belgian savers flock to new bond with higher interest rate
Bond aims to boost competition among banks Belgium has launched a new bond for retail investors that offers a higher interest rate than most bank deposits. The bond, which has a one-year maturity, pays a rate of 3.3%, compared to the 2.8% rate on outstanding deposits of up to two years, according to Belgium’s central bank. The bond is aimed at pressuring banks to raise their deposit rates, which have…