Re:IRS Files $44B Claims Against Bankrupt FTX
by madsbuch on Friday May 12, 2023 @02:57AM
(#35912884)
> Did something substantial changed on the market recently?
Yes. The FED has increased to interest rates. So the marked can support that now.
Re:IRS Files $44B Claims Against Bankrupt FTX
by lightfield1002 on Friday May 12, 2023 @04:12AM
(#35913395)
The FEDs rate was close to 0% early 2022 and is now above 5%.
Yes, something very substantial has changed.
It's quite easy really. The FED has done stuff which doesn't impact you directly, really.
However what the ECB(European Central Bank, steward of the euro) and the NBP (Narodowy Bank Polski) have done, impacts you much more directly.
https://www.ecb.europa.eu/stats/policy_and_exchange_rates/ke...
https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp2305....
And of course, most relevant, Polish Central Bank: https://nbp.pl/en/monetary-policy/mpc-decisions/interest-rat...
The 7% interest rate you get in Poland is based on the one set by the central bank. Note that it is only like this since end of 2022, before that the rate was probably hovering around zero, like the ECB.
Did something substantial changed on the market recently? Because right now I can literally get a risk-free 7% time-limited savings deposit from my bank (Santander), which HN tells me is completely legit, all while banks in most other countries in the EU are stuck at offering 0.01% or even negative interest rates. What gives?
I've long given up on trying to make any sense out of it.