Poland to Hold Rates, Focus on Glapinski's Tone
Poland is set to keep interest rates on hold, with investors focusing on central bank Governor Adam Glapinski's outlook for borrowing costs following a pivotal presidential election.
A month after the Monetary Policy Council cut its benchmark by half a point, all but one of 27 economists surveyed by Bloomberg expect the panel to keep rates steady at 5.25% on Wednesday. Glapinski and other policymakers have signaled that rates should stay flat in June before potential further easing later this year.
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CBS News
an hour ago
- CBS News
Here's how much an 18-month CD can earn now (and why it's still worth opening)
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. An 18-month CD can still earn savers a substantial return, even in today's slightly lower interest rate climate. imageBROKER/Firn "What's the interest-earning potential?" That's the question savers are always asking themselves before putting their money into a specific account type. And the answer, in recent years, was often "substantial." Thanks to the highest inflation rate in decades and, thus, the highest interest rates in more than 20 years to combat it, savers were able to earn upwards of 5% on vehicles like high-yield savings and certificates of deposit (CD) accounts. The latter type, in particular, had rates upwards of 6% for some specific savers, making them an obvious way to grow and protect your money. But that was in 2023 and 2024. Towards the end of 2024, the Federal Reserve embarked on an interest rate cut campaign that impacted the returns savers were accustomed to with CDs. And that drop in interest-earning potential is likely to continue later this year as additional cuts are issued. That is, of course, unless savers act promptly to take advantage of today's still-elevated interest rate climate. One way to do so is with an 18-month CD, in particular. Before getting started, however, it's helpful to know the precise interest-earning potential of this CD term now, in early June 2025. Below, we'll do the math – and explain why this CD type is still worth opening now. See how much money you could be earning with a high-rate CD here now. Here's how much an 18-month CD can earn now To determine how much money you can earn with a CD you'll need three primary numbers: the interest rate, the term (or length) of the CD account before hitting maturity and the amount deposited. Using those figures, then, here's what savers could expect to earn with an 18-month CD if opened now, tied to a few different deposit amounts and readily available interest rates: $1,000 CD at 4.16%: $63.04 for a total of $1,063.64 afer 18 months $63.04 for a total of $1,063.64 afer 18 months $1,000 CD at 4.05%: $61.36 for a total of $1,061.36 after 18 months $61.36 for a total of $1,061.36 after 18 months $1,000 CD at 4.00%: $60.60 for a total of $1,060.60 after 18 months $5,000 CD at 4.16%: $315.22 for a total of $5,315.22 after 18 months $315.22 for a total of $5,315.22 after 18 months $5,000 CD at 4.05%: $306.81 for a total of $5,306.81 after 18 months $306.81 for a total of $5,306.81 after 18 months $5,000 CD at 4.00%: $302.98 for a total of $5,302.98 after 18 months $10,000 CD at 4.16%: $630.45 for a total of $10,630.45 after 18 months $630.45 for a total of $10,630.45 after 18 months $10,000 CD at 4.05%: $613.61 for a total of $10,613.61 after 18 months $613.61 for a total of $10,613.61 after 18 months $10,000 CD at 4.00%: $605.96 for a total of $10,605.96 after 18 months $20,000 CD at 4.16%: $1,260.89 for a total of $21,260.89 after 18 months $1,260.89 for a total of $21,260.89 after 18 months $20,000 CD at 4.05%: $1,227.22 for a total of $21,227.22 after 18 months $1,227.22 for a total of $21,227.22 after 18 months $20,000 CD at 4.00%: $1,211.92 for a total of $21,211.92 after 18 months Get started with a high-rate CD online today. Why an 18-month CD is still worth opening As illustrated above, savers can earn hundreds or even thousands of dollars with select 18-month CD accounts if opened now. And while that may be enough of a motivation to act promptly, it's not the only reason why an 18-month CD is worth opening now. Here are two others: Extended protection against market uncertainty: No one knows where the interest rate climate is heading this summer, or in the months after, let alone six months to a year from now. But with an 18-month CD, that's less of a concern as savers will secure extended protection against market uncertainty thanks to the fixed interest rate that CD accounts come with. And, by the time the account matures, you'll hopefully have a better idea of where the market stands. The alternatives are not as beneficial: High-yield savings accounts have comparable (but lower) interest rates than the top CD accounts do now. But high-yield savings account interest rates are variable, meaning that they'll decline alongside your interest earnings as the rate climate cools. Money market accounts have the same caveat, while traditional savings accounts have average rates under 0.50%. Compared to the 4%-plus that 18-month CDs come with, then, it becomes clear which is most advantageous for your money now. The bottom line With the potential to grow your money by hundreds (or even thousands) of dollars, the benefit of extended financial protection against market uncertainty and the unfortunate reality of low-rate alternatives, an 18-month CD could be the place to keep some of your money right now. Before getting started, however, be sure to calculate the exact amount you can comfortably part with for the full term to avoid having to pay any early withdrawal penalties or fees to regain access to your funds.
Bloomberg
an hour ago
- Bloomberg
EU Seeks Deeper G-7 Defense Ties to Offset Trump's Upheaval
The European Union is racing to strengthen defense ties with key Group of Seven allies as President Donald Trump pares back the US commitment to the continent's security. The EU is aiming to conclude a defense and security partnership with Canada this month that will pave the way for Canadian companies to participate in a new defense fund meant to jump start a transformation of the bloc's industry, according to people familiar with the matter.
CBS News
an hour ago
- CBS News
Should you lock a home equity loan interest rate this June?
There are multiple reasons why homeowners should lock in a home equity loan rate this June. Getty Images/iStockphoto When it comes to locking in an interest rate on a borrowing product, the timing can be difficult to get right. Wait too long and you risk having to pay more than you would have at an earlier point. Start too early, however, and you could see yourself getting locked in to a rate that declines right after you close on the loan. Monitoring the interest rate climate closely, then, for opportunities to act (and for times to step back) is critical. And it's even more important for homeowners considering a home equity loan. Since these funds come directly out of your home, which serves as collateral in the borrowing exchange, you'll want to ensure long-term affordability to offset any risk of foreclosure. That means knowing when to lock a home equity loan interest rate – and when not to. In the unique interest rate climate of June 2025, however, there's a compelling case to be made for locking in a home equity loan rate now. Below, we'll list three reasons why this makes sense for homeowners in need of extra financing. Start by seeing what home equity loan rate you'd be eligible for here. Should you lock a home equity loan interest rate this June? While each homeowner's financial situation is different, many homeowners considering a home equity loan would benefit from locking in a low rate now. Here's why: Home equity loan rates are stagnating Home equity loan interest rates steadily declined in 2024 and continued to slowly drop in the early months of 2025. But that progress has been slowed in recent weeks, with rates here dropping from 8.36% on May 14 to 8.23% on May 21 to 8.24% on May 28 and 8.25% on June 4, according to Bankrate data. While those aren't major differences week-over-week, they do indicate some uncertainty on behalf of lenders as they await new data on inflation, Fed rate cuts and economic policies. Considering that rates are still lower than the approximate 8.80% average from early 2024, those in need of a home equity loan now may want to lock in what's available at the moment – and look to refinance should the market significantly cool in the future. Get started with a low-rate home equity loan online today. Rates could stay higher for longer than anticipated Optimism earlier this year that the Federal Reserve would continue its interest-rate cut campaign in 2025 has waned significantly after the central bank kept rates paused at its January, March and May meetings. And the chances of a rate cut for when the bank meets again in June are also dim. Finally, if rates are eventually cut, either in July or September, it's likely to be just by 25 basis points to start, which will have a muted impact on home equity loan interest rates. Understanding this dynamic, then, and with relatively low home equity loan rates already available, it makes sense to lock in a rate now to limit any additional expenses that could arise from an extended rate pause. It's still cheaper than many alternatives The average interest rate on a personal loan? Close to 13% now. And the average credit card rate? Around 21%, just recently down from a record high. Even home equity lines of credit (HELOCs), which were clearly the cheapest borrowing option earlier this year, have become more expensive lately as rates there are up by more than 25 basis points from where they were earlier this spring. Matched up against these alternatives, then, and with the benefit of a fixed rate in a climate in which rates could easily rise again, proceeding with a home equity loan makes sense now. Not only is it cheaper than a credit card and HELOC – it will remain so as these other two alternatives have variable rates that could rise in response to market conditions while the home equity loan rate secured today will be the same one six months from now (or longer). The bottom line It may not always make sense to lock in a rate on a borrowing product, especially if the climate is cooling. But June 2025 isn't necessarily that economic atmosphere. With home equity loan rates low (but stagnant), the chances of higher rates for longer appearing more and more likely and the reality that rates here are still lower than some alternative products with variable rates, homeowners in need of financing may find that locking in a home equity loan rate this June makes the most sense for their needs and long-term goals.
