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Home Mediji Vijesti The interest rates are going to remain unchanged till 2014

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An announcement has been made by the Federal Reserve that they are not going to raise the interest rate for the coming three years. Thus, the interest rates will remain at the rock bottom as it is now. This is good news especially for the credit card holders. This is another step taken forward by the Federal Reserve to bring in more transparency in making the policy decisions.  This may help the public understand in what way the fed actually is working and what its motives are. As the interest rates are still low, it may help you to avoid incurring huge debts and if you are a careful shopper, you may not be required to even opt for debt consolidation to pay down your credit card debts.

Interest rates going to remain the same

The interest rates of the credit card are going to remain the same till 2014. This is going to be extremely helpful for the people using credit cards. This will mean that you won't be required to pay more in interest against the credit card debts incurred through credit card usage.

So, why do you think is the Federal Reserve still going to keep the interest rates low till 2014? The main reason due to which the rates have been kept low is the slow paced economy. It is the Fed's Federal Open Market Committee or FOMC which sets the monetary policy. As they have done from the time of the recession -  keeping the federal funds rate low - the FOMC has again decided to keep the rates at as low as 0 to 0.25 percent. They have said that until they are going to see any positive change in the economy, they are not going to increase the rates of the federal funds.

The economists are of the view that if the Federal Reserve keeps the interest rates low, it may be quite encouraging for the businesses. They may feel more interested to invest in the growth now and they may not simply wait for that more stable economy. This may result to a situation where the consumers will start to spend more, especially on the big ticket items like the cars and also the new homes.

Thus, it can be said that if you can manage to pay the bills on time, you may not have to see any unpredictable rise in the interest rates of your credit cards. But, another very important that should be considered too is that if economic forces like inflation occurs, or if there is a rapid economic recovery, it can result in increased rate by the Federal Reserve.


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