Prices are increasing as the New Year begins, and banking commissions are some of them. Increases of more than 30% across many products and services are going into effect.That financial institutions are relying on increases like this is another signal that, despite aid from the European Central Bank (ECB), we are far from restoring a period of normalcy.
Lenders are seeing their margins thin in addition to dealing with negative impacts on their accounts such as high financing costs, increased loan defaults and ever stricter capital requirements.
Various price and rate increases are going to burden families just when economic stagnation will slow down access to credit. We?ll have to tighten our belts even more.