Eurostats, the European Comission Statistical Bureau, estimates that the inflation for the Eurozone March 2011 reaches a whopping 2,6%. This means a 0,2% inflationincrease from Februari (2,4% inflation). I found a list of 16 banks with their highest interestrates that fall under the Dutch bankingguarantee (Link is in Dutch and dates 30 march 2011: http://financieel.infonu.nl/sparen/35990-hoogste-rente-sparen-bij-nederlandse-banken.html ). Only one of these banks would equal a 2,6% inflation rate with a 2,6% interest rate. All of the others would be below the inflationpercentage! If the inflation outpaces the interest. The people who saved their money will become the thieves of their own wallets, that is if they don't spend their savings.
Australia is no better. I see a 'teaser' rate of 6.5% from the bank and chuckle. Between fees, charges, taxes and inflation you're still screwed. Most of us understand the rigged CPI game and how hedonics totally misrepresent real inflation rates. Head over to shadowstats some time and see what the REAL rate of inflation is. You'll never want to leave your fiat in a bank 'savings' account ever again.
