Below is a round-up of this week’s interest rates from the Federal Reserve.
Click to Enlarge
**Please note, the discount rate is calculated as an average of the rate posted for seven consecutive days, ending on the Wednesday of this current week. The actual discount rate for the week ending on February 26 was 0.75 percent
The most recent survey from the National Association for Business Economics shows that economists believe the Fed Funds rate will be increased in the near future. Of the 203 member panel, 63 percent of economists polled anticipate a 25 to 50 point basis rise in the Federal Funds target. This projection comes despite Ben Bernanke’s statements that the rate will remain low in the coming months.
The policy-making body of the Federal Reserve, the Federal Open Market Committee, is scheduled to convene next Tuesday.
Stay tuned for the latest news in rates.
To see the best rates on CDs, offered by your local bank, visit BillShrink for Savings and CDs.