The Bank of England has cut interest rates to 2%, their lowest since 1951.
The inflation-adverse European Central Bank cut its benchmark interest rate by 75 basis points, the largest cut in the monetary authority's 10-year history. That means the key lending cost in the 15 countries for which the ECB is the central bank now stands at 2.5 per cent.
The Swedish Riksbank also cut its key interest rate — by even more that the others — a record 1.75 percentage points to two per cent. This reduction is the bank's biggest cut since June 1994.
The Federal Reserve cut their rates to 1% at the end of Ocotber 2008.
Intrest rates are running at historical lows. If you have savings you are earning less in interest on your savings now than ever before.
The cost of borrowings has dropped.
Now is a great time to invest.
Teak prices are rising at 8.5%per year over the past 10 years. Land in Puntrenas rose by 31% in 2007. Will this combination outperform the rates you are getting on your deposits?
Contact us and we would be delighted to show you how an investment in teak and land in Costa Rica, the hottest real estate market on the face of the planet" (CNBC Europe) - see the clip here.
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful"Warren Buffett
We can be contacted by phone on +353 1 272 4184, by e mail on info@costaricainvest.ie or apply for a FREE brochure here
Tuesday, December 9, 2008
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Its nice to hear that, the banks are cutting down the interest rates. Since banks are cutting down the interest rate, people would be benefited by this. So that, most of the people would think that this is the great time to invest. Costa Rica is such an wonderful place where most of the people would like to spend their life here.
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