Belgium's long-term interest rate tops 2.5%

Belgium's long-term interest rate tops 2.5%
Credit: Belga

The Belgian ten-year interest rate has passed the 2.5% mark and is now at its highest level in almost a decade.

Interest on long-term loans is now more than 2.6%, its highest rate since the second half of 2013.

Belgium is not alone: interest rates worldwide are rising as a result of the policy of central banks, which have been raising rates to curb inflation.

Higher interest rates are bad news for the treasury, which will have to pay more to raise money on the international market. Home loans are also becoming more expensive, since they are linked to linear bonds.

Savers, on the other hand, should benefit from the rate hikes.

Copyright © 2021 The Brussels Times. All Rights Reserved.