{"id":24474,"date":"2026-07-08T09:54:08","date_gmt":"2026-07-08T07:54:08","guid":{"rendered":"https:\/\/creandgroup.com\/?post_type=opinion-article&p=24474"},"modified":"2026-07-08T14:13:12","modified_gmt":"2026-07-08T12:13:12","slug":"tipus-dinteres-canvi-de-cicle-bones-noticies-per-a-lestalviador","status":"publish","type":"opinion-article","link":"https:\/\/creandgroup.com\/en\/opinion-article\/tipus-dinteres-canvi-de-cicle-bones-noticies-per-a-lestalviador\/","title":{"rendered":"Interest rate: Change of cycle. Good news for savers"},"content":{"rendered":"
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The European Central Bank (ECB) has initiated a change in the interest rate cycle after several years without an increase. The surge in inflation, intensified by geopolitical factors like the war in Iran, has forced the monetary authority to return to a more restrictive policy with the aim of curbing rising prices.<\/p>\n

This new scenario has direct implications for personal finances. On the one hand, those with debts will see their costs increase, especially in the case of variable-rate mortgages. On the other hand, savers now find a more favourable environment, with greater opportunities for returns on products such as bank deposits, Treasury bills and fixed-income investment funds.<\/p>\n

Bank deposits are one of the simplest options. This process consists of depositing a sum of money with a financial institution for a certain period in exchange for an agreed interest rate, which can be fixed or variable. On top of that, they are protected by the Deposit Guarantee Fund up to the legal limit, making them a low-risk instrument.<\/p>\n

Treasury bills, on the other hand, are short-term public debt securities issued by the State with maturities that usually range between three and twelve months. In this case, investors lend money to the State and obtain a return derived from the difference between the purchase price and the value received at maturity.<\/p>\n

Alongside these alternatives, fixed-income investment funds have gained prominence. These vehicles invest in assets such as bonds, notes or bills and are managed by professionals seeking to diversify the portfolio based on different issuers, terms and market conditions. Unlike deposits or bills, which depend on a single issuer, funds allow the risk to be spread and offer greater flexibility, since investors can redeem their money without having to wait until maturity. Furthermore, they facilitate access to markets and strategies that would be a more complex task if approached individually.<\/p>\n

Within fixed income there are different options depending on the term and the risk profile. Money market funds are geared towards very conservative investors and are usually suitable for time horizons of less than one year. Short-term fixed income funds fit into strategies of between one and two years, while traditional fixed income funds, also designed for prudent profiles, usually require a minimum horizon of three years. In general, a longer investment period allows for better absorption of market fluctuations.<\/p>\n

It is worth remembering that, although fixed income is associated with a moderate level of risk, it is not exempt from volatility. The main risk is interest rate risk: When interest rates rise, the value of bonds already issued tends to fall, which can translate into temporary declines in the value of the funds. Therefore, it is essential to choose the right product based on the planned investment period.<\/p>\n

Finally, in an inflationary environment, focusing on nominal returns is not enough. The true goal of the saver should be to preserve\u2014and ideally increase\u2014their purchasing power. In this context, well-managed fixed income funds, with adequate diversification and competitive costs, can play a relevant role within a conservative savings strategy, complementing other alternatives such as deposits or government debt.<\/p>\n

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Diari d\u2019<\/span>Andorra 8.07.26<\/p>\n<\/div>\n <\/div>\n \n \n

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