It makes perfect sense to harness today’s attractive credit conditions if you are already planning to make a major investment in the medium term like building a house. But just like credit institutions, consumers, too, should always have one eye on the end of the low-interest-rate period, and consider their capacity to service their debts once interest rates start picking up again.
That brings me to the group of savers who, it’s safe to say, have been attracting the most attention recently in the public debate over low interest rates. People are increasingly wondering whether there’s really any point in saving with interest rates at such extremely low levels. Let me first of all say that I can very much appreciate the concerns of savers.