What?! Huh? Did I miss something?
I just noticed this this morning… ING Direct lowered their interest rate to 1.391%.
The last time that they changed (and lowered) their rate was back on March 21.
At the time, if you remember, it was pretty much expected and it was their third or fourth rate reduction of the year. Every few weeks, they’d lower it a bit.
Things just seemed gloomy all around.
But it’s been quiet since then, the stock market has roared back up, there are media reports of people saving instead of spending, and, honestly, I was actually expecting them to raise the rate sometime over the summer.
You know, to maybe attract all of these reported *new* savers out there???
Well, it’s disappointing…